Berkshire’s 2026 annual shareholder meeting: Watch the full morning session
Summary
Berkshire Hathaway's 2026 annual meeting morning session, presided over by new CEO Greg Abel, featured a business update, a surprise appearance by Warren Buffett honoring Tim Cook and Apple's 10-year investment, a Tokyo Marine strategic deal announced by Ajit Jain, and Q&A covering capital allocation, succession, AI, climate, and more.
- Greg Abel delivers his first annual meeting as CEO and provides a detailed business update.
- Warren Buffett celebrates 60 years as CEO and highlights the $35B Apple investment growing to $185B.
- Berkshire reports $380B net cash and US Treasuries, and $235M in share repurchases during Q1 2026.
- Ajit Jain announces a $1.8B investment in Tokyo Marine, including a 2.5% stake and reinsurance agreement.
- Insurance market softening noted due to benign catastrophe environment and increased competition.
- Technology transformation at GEICO and BNSF emphasized, with 'narrow AI' deployed for operational efficiency.
- Data center energy demand presents growth opportunity for Berkshire Hathaway Energy, but with regulatory challenges.
- Climate change question addressed with Iowa utility achieving 93% renewable energy generation.
Trade Ideas
Berkshire buying own undervalued shares.
Berkshire repurchased $235 million of its own stock in Q1 2026, consistent with its policy of buying when intrinsic value, conservatively determined, exceeds the current share price. The buyback signals management's view that the stock is undervalued relative to the company's long-term earning power and asset base.
Strategic investment in Tokyo Marine partner.
Berkshire purchased 2.5% of Tokyo Marine & Fire for $1.8 billion, describing the transaction as a long-term strategic partnership with a high-quality, blue-chip Japanese insurer. The deal includes a quota-share reinsurance arrangement and a broad strategic agreement, reflecting Berkshire's confidence in Tokyo Marine's management and its ability to generate profitable underwriting returns.
