Berkshire Hathaway’s Cash Surges in Abel’s First Quarter as CEO

Berkshire Hathaway Inc.’s cash pile soared to its highest level ever and operating earnings jumped in Greg Abel’s first quarter as chief executive officer.

After a slight decrease late last year, the firm’s cash hoard jumped to $397 billion in the first quarter as it offloaded a net $8.1 billion of equity holdings in the period, the Omaha, Nebraska-based conglomerate said in a statement Saturday. Operating earnings, meanwhile, got a boost from an improvement in underwriting results in its vast insurance businesses.

Greg Abel

Photographer: Dan Brouillette/Bloomberg

Abel, who replaced legendary investor Warren Buffett as CEO this year, also resumed stock buybacks, handing ...