Berkshire shares hit post-Buffett high

Berkshire Hathaway reported strong second-quarter results and accelerated deployment of its cash reserves under new CEO Greg Abel, sending shares to their highest level since Warren Buffett announced his departure in May 2025. Cash fell to $364.7 billion from a record $380.2 billion, as Berkshire repurchased $4.5 billion of its own stock and invested $23.5 billion in other stocks, including a $10 billion stake in Alphabet. In July, it spent at least $10.1 billion more on buybacks and the acquisition of homebuilder Taylor Morrison. Operating profit rose 16% to $12.98 billion, net income more than doubled to $25.67 billion, and revenue grew 10%. Analysts at Keefe, Bruyette & Woods and UBS raised price targets, though KBW maintained an 'underperform' rating due to macroeconomic uncertainty and insurance pricing pressures. Class A shares rose as much as 3.3% to $806,102.81, and Class B shares rose 3.1% to $537.74.