Greg Abel Leads Berkshire Hathaway’s First Annual Meeting as CEO

The May 2-3, 2026 shareholders meeting in Omaha featured Greg Abel as chief executive for the first time. Warren Buffett, now chairman, attended from the audience and raised a jersey honoring his 60-year tenure. Abel shared the stage with vice-chairman Ajit Jain, BNSF Railway CEO Katie Farmer, and consumer-products head Adam Johnson, underscoring a unified leadership team.

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Berkshire posted Q1 operating earnings after taxes of $11.35 billion, an 18 % rise, driven by a 28.5 % jump in insurance underwriting profit to $1.72 billion. Cash and Treasury-Bill holdings neared $400 billion, about 32 % of assets. Class B shares rose 1.3 % after the meeting, though the stock is down 10.8 % YTD, lagging the S&P 500 by 40.4 percentage points.

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Abel said Berkshire will not pursue “AI for the sake of AI,” but is exploring AI tools for BNSF while emphasizing human judgment on cyber-risk. He reaffirmed the policy of buying businesses to hold indefinitely and noted the market “is not ideal” for deploying the cash pile, keeping share repurchases modest at $235 million in the quarter. Abel also highlighted cybersecurity concerns tied to AI misuse.

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UBS analyst Brian Meredith praised Abel’s “deep understanding of all of BRK’s major businesses.” CFRA’s Catherine Seifert said investors “were hoping for a more aggressive buyback stance.” KBW’s Meyer Shields called Abel’s candid discussion of BNSF margin pressures “impressively candid and hence credible.”

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The modest buyback and large cash hoard drew criticism for risking the “Buffett premium.” Some investors warned that prolonged cash sitting could erode returns if attractive deals do not emerge.

Warren Buffett's Successor, Greg Abel, Is Sending a 'Loud Signal' About Investing Today

Cash figures vary: one source cites “nearing $400 billion,” another lists $58 billion cash plus $339 billion Treasury Bills, totaling $397 billion. Share-repurchase data differ, with $235 million reported for Q1 versus a prior $226 million purchase on March 4. No clear guidance on future cash use was given.

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Abel said Berkshire will keep evaluating AI-driven efficiencies and watch data-center growth for its utility assets. The cash cushion positions the firm to pursue “mutually beneficial” acquisitions, though timing depends on market valuations and investor expectations.

Berkshire Trails S&P 500 By 40.4 Points As Abel Faces First Test

• “Greg Abel performed well in his first Annual Meeting as CEO, in our view, exhibiting a deep understanding of all of BRK's major businesses and plans to drive operational excellence,” — Brian Meredith, UBS analyst

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• “We don't have layers of management.” — Warren Buffett, Chairman

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• “We are a conglomerate, but we are an efficient conglomerate,” — Greg Abel, CEO

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• “We think investors were hoping for a more aggressive buyback stance,” — Catherine Seifert, CFRA analyst

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