Chairmanship transition

Warren Buffett stepped down as Berkshire Hathaway chairman on Sept 18, effective immediately, succeeded by his son Howard G Buffett after 33 years on the board.

Culture vs operations

Buffett wrote Greg Abel runs the company while Howard guards culture and values, both worth more than anything on the balance sheet.

“Greg runs the company; Howard will guard its culture and values”

Capital allocation shift

Berkshire spent $39.4 billion on equity purchases in first half 2026, more than five times 2025 spending.

Alphabet investment

Abel added 48.1 million Alphabet shares as part of $10 billion commitment to support AI investments.

Berkshire's test

The real test is whether Abel can preserve Berkshire's discipline while making capital decisions Buffett might not have chosen.

New CFO appointments

Todd Garner became Avantor's EVP and CFO effective Sept 21, succeeding interim CFO Steve Eck.

Middle market shift

U.S. mid-sized companies are shifting from cost-cutting to revenue growth despite inflation and cybersecurity risks.