Under CEO Greg Abel, Berkshire bought back about $4.5 billion of its shares in the second quarter, versus $235 million in the first, and repurchased roughly $3.3 billion more in July. It paid no dividend, prioritizing buybacks and investments.
Berkshire reported $365.5 billion in cash and short-term Treasury bills in June, down from a record $397.4 billion in March. It also committed $10 billion to Alphabet in a private placement announced June 1; Alphabet became one of Berkshire's five largest equity holdings.
Abel wrote in his 2025 shareholder letter that Berkshire would avoid dividends while retained dollars create more than a dollar of value. The board reviews its policy annually and has given no indication it plans regular payouts; Berkshire last paid a dividend in 1967. Its shares were up 1% in 2026, compared with a gain of more than 11% for the S&P 500, CNBC reported.
