Berkshire Hathaway CEO Greg Abel speaks during Berkshire Hathaway’s annual meeting on May 2, 2026 in Omaha, NE.
CNBC
OMAHA, Neb. – On his first run Berkshire HathawayAt the annual meeting, Greg Abel delivered what many shareholders expected: a steady hand, a sure feel for the sprawling conglomerate and just enough of his own style to reassure investors that the post-Warren Buffett era is on solid footing.
Reviews from longtime shareholders and professional investors were largely positive, although many acknowledged the notable absence of Buffett, whose wit, storytelling and investing acumen have long characterized the event.
“Very solid. No wrong words. Thorough answers,” said Steve Check, founder of Check Capital Management. “Nice guy, but we certainly don’t have the laughs we had with Warren and Charlie [Munger].”
“Greg and his firm have delivered in terms of content, vetting of the companies and confidence in the prospects,” said Macrae Sykes, portfolio manager at Gabelli Funds.
David Kass, a finance professor at the University of Maryland and a decades-long Berkshire shareholder, said he became more confident in Berkshire after seeing Abel’s performance firsthand. He pointed to the company’s “deep bench” – including executives such as Berkshire’s vice chairman of insurance, Ajit Jain; Adam Johnson, president of Berkshire’s consumer products, services and retail businesses; and Katie Farmer, CEO of BNSF Railway – as proof that leadership continuity goes far beyond a single number.
“Greg has demonstrated the knowledge and passion for leading all of Berkshire’s businesses,” Kass said. “His primary focus is operations. In contrast, Buffett focuses more on the investment side of Berkshire.”
Granular insights
This shift in emphasis was evident throughout the question-and-answer session, in which Abel engaged in detailed discussions about Berkshire’s subsidiaries, a level of specificity that resonated with shareholders seeking reassurance about execution under the new leadership.
“The answers were really good because they gave detailed insights,” said Tilman Versch, a German shareholder and founder of the investor community Good Investing. “Everyone misses Warren. His clear, consistent and funny answers are hard to replace. But I hope that with more practice Greg can find his own style.”
Abel opened the session with a nearly hour-long presentation that walked investors through the inner workings of Berkshire’s key companies. He covered the performance and prospects of the entire railroad division, energy operations, insurance division and retail subsidiaries, providing a level of operational detail that shareholders said was more like an investor day than the casual, anecdote-filled format of past meetings.
Greg Abel and Ajit Jain speak during Berkshire Hathaway’s annual meeting on May 2, 2026 in Omaha, NE.
CNBC
I am interested in technology
Artificial intelligence emerged as the central theme of the meeting. Abel said Berkshire is already exploring AI-driven tools to improve operations at BNSF Railway, and spoke fluently about technologies such as large language models, highlighting their potential to improve the company’s existing businesses.
He also noted that rapid data center expansion represents a major tailwind for Berkshire’s utility operations, as increasing electricity demand creates a significant growth opportunity for Berkshire’s energy network assets.
“He was obviously very comfortable with technology and AI, unlike Warren, who typically avoided technology-focused investments outside of Apple and more recently Google,” said Adam Patti, CEO of VistaShares and manager of an ETF tracking Berkshire’s largest holdings. “Perhaps this will shed some light on how the portfolio might perform over time.”
Disappointment when buying back
The pace of Berkshire’s share buybacks caused frustration among some shareholders.
According to the earnings report, the company repurchased $235 million worth of shares in the first quarter. The company had previously announced on March 4 that it had purchased $226 million worth of shares, meaning it only slightly increased its purchases toward the end of the quarter.
“The only thing missing was real guidance on further buybacks,” Patti said. “I was hoping they would be more aggressive on this issue.”
“I am disappointed by the lack of significant buybacks,” Check said. “I guess they’re waiting for a lower price, but they’ve bought a lot more at this valuation before.”
The crowd may still have to brace for a Berkshire meeting without Buffett at the center. But after this first foray, investors appear increasingly willing to give Abel the space and time to define the next chapter on his own terms.
“They really got more companies involved than ever before because it used to be just Warren answering Warren’s questions,” said Susan Chan, a longtime shareholder who, along with her friend Wanda Lee, decided to skip the meeting this year. Instead, they watched the show from Chan’s home in New Jersey and found that the new format instilled confidence in Berkshire’s future direction. “And now it’s actually more like, ‘Our shareholders are our family. And we’re going to show you exactly what we’re invested in and what we’re doing.'”
“We made a conscious decision not to go this year,” Chan said. “But we just said, ‘Let’s go next year.'”
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.