Berkshire spent about 4.5 billion US dollars to buy back its own shares in the second quarter and bought nearly 20 billion US dollars of shares during the period, indicating that CEO Abell is putting more of the company's huge cash reserves into the market. Berkshire began repurchasing shares in the first quarter, for the first time in more than a year. Abel said earlier this year that the company restarted the buyback because management believed the “intrinsic value” of the stock was higher than its market price. Cathy Seifert, an analyst at CFRA Research, said: “Investors will be encouraged by buyback initiatives. It's also a way for Greg to take over the company and show his dominant position.” The share buyback provided shareholders with the largest quarterly return on capital since 2021. Berkshire's cash reserves fell to $365.5 billion in the second quarter, down from about $397 billion in the previous quarter.

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