Warren Buffett’s Berkshire Hathaway sold stocks and didn’t snap up bargains even as markets crumbled after ‘Liberation Day’

Jeff Kowalsky—Bloomberg via Getty ImagesBerkshire Hathaway’s second-quarter results showed that the conglomerate remained a net seller of stocks and continued to accumulate cash

That period includes the head-spinning stock market plunge and rebound ing President Donald Trump’s rollout of aggressive tariffs on “Liberation Day” in April

Warren Buffett’s Berkshire Hathaway largely remained on the sidelines last quarter, even as the stock market cratered on President Donald Trump’s “Liberation Day” tariffs and briefly presented steep bargains

Second-quarter results released on Saturday revealed that the conglomerate was a net seller of stocks for the 11th straight quarter

Berkshire also refrained from stock repurchases for the fourth consecutive quarter

The legendary value-conscious investor has bemoaned the lack of good deals for years now

That includes possibilities for large acquisitions of companies that could be folded into Berkshire as well as major stock purchases for the portfolio

At the same time, Buffett has also avoided knee-jerk moves, and the stock market saw a head-spinning plunge and rebound in April as Trump shocked Wall Street with his aggressive tariffs then put them on hold just days later

But the index has since shot back up to fresh records

The stock market swings also came as Buffett was contemplating a transition away from his leadership role

In May, he announced that his anointed successor, Greg Abel, should take over as Berkshire Hathaway CEO by the of the year

While Buffett is expected to stay on as chairman, he may be staying away from dramatic moves to the decks for Abel, who had already been taking on a bigger leadership role before May

Despite his aversion for major purchases lately, Buffett’s annual letter to holders in February reaffirmed his commitment to staying invested in stocks and companies, even as cash continued to mount. “Berkshire holders can rest assured that we will forever deploy a substantial majority of their money in equities—mostly American equities although many of these will have international operations of significance,” he wrote. “Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good es, whether controlled or only partially owned.” Berkshire also reported that its operating earnings, which exclude the impact of its investments, fell 4% to $11.16 billion in the second quarter as insurance-underwriting results weakened

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