By quarter's end, Berkshire's total cash position had swelled to over $397 billion, advancing from the $373 billion on its books when 2025 closed, according to CNN. Insurance float — the net liabilities the company assumes under insurance contracts — stood at about $176.9 billion as of March 31, an increase of about $500 million since year-end 2025, Berkshire said.
At Saturday's annual shareholder meeting in Omaha, Nebraska, Abel led the proceedings alongside several members of his management team. Buffett, now holding the chairman title, addressed the gathering from his seat on the floor rather than from the stage. Among the subjects Abel addressed was technology adoption; he cautioned that the company intended to pursue artificial intelligence only where it could demonstrate genuine value, saying Berkshire was "not going to do AI for the sake of AI," according to CNBC. Buffett offered a public endorsement of his successor, saying: "He's doing everything I did and then some, and he's doing it better in all cases."
Abel has worked to signal continuity since taking the top role. In his first annual letter to shareholders, Abel described Berkshire less as a company than a stewardship arrangement, writing that shareholder capital "does not belong to us." He also acknowledged that after several years of improving pricing and terms, the insurance industry began to see "a deceleration or reversal" in 2025, particularly in the latter half of the year. Shortly after assuming the CEO role, Abel also restarted Berkshire's share repurchase program, which had been paused since 2024, disclosing the move in a manner the company described as being "in the interest of transparency with our leadership transition."
