Berkshire Hathaway was a net seller of stocks in the first quarter despite holding a record $397 billion in investable capital.
Key Points
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Warren Buffett was a net seller of stocks during his last 13 quarters as Berkshire Hathaway’s CEO, and that streak continued under his successor in Q1 2026.
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Berkshire’s status as a net seller is particularly surprising given that the company holds a record $397 billion in cash and equivalents on its balance sheet.
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The S&P 500 currently has a CAPE ratio above 40, meaning the benchmark index is more expensive today than it has been since the dot-com crash in 2000.
