PANews May 2 news, according to Jinshi reports, new CEO Greg Abel took the stage to host the Berkshire Hathaway annual shareholder meeting. Buffett attended the Berkshire shareholder meeting and took a seat in the audience.

It is reported that under the leadership of new CEO Greg Abel, Berkshire Hathaway continued to sell off stocks in the first quarter, increasing its cash reserves to $397 billion. Meanwhile, the company did not use its massive cash reserves to invest in the volatile market. Since the company has reduced its stock holdings for more than three consecutive years, its cash reserves have been the focus of investors. Berkshire disclosed that it has sold $24 billion worth of stocks while buying $15.9 billion worth of stocks, extending its record of net sell-offs to the 14th consecutive quarter. This is the largest quarterly stock sale Berkshire has made since 2024 from its $288 billion stock investment portfolio. In 2024, the company significantly reduced its holdings in Apple Inc.

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