Berkshire Hathaway finally started spending its nearly $400 billion in cash — on one stock it knows very well

Berkshire is buying its own stock after years of building up a cash pile. Not everyone is excited.

Berkshire's quarterly operating profit rose 16% to $12.98 billion, topping analyst forecasts.

Greg Abel boosted spending on stocks and buybacks in the second quarter. AP Photo/Rebecca S. Gratz Greg Abel made a dent in Berkshire Hathaway's cash pile last quarter. Berkshire's heaviest spending on stocks and buybacks in years shrank its cash pile to $365 billion. Warren Buffett grew Berkshire's cash to record hig

Berkshire's report suggested that it had added more than $24 billion worth of commercial, industrial and other stocks to its portfolio.

Berkshire Hathaway, Under a New CEO, Starts to Spend its Cash Pile  wsj.com

Berkshire accelerates buybacks, lowers cash stake as profit tops forecasts  Reuters

Apple, American Express, Coca-Cola, Bank of America, and Alphabet together account for $222.3 billion of the conglomerate's holdings

President Donald Trump said he would open the purse strings on the massive amount of campaign cash he controls to support Republican candidates in November’s midterm elections.