Berkshire Hathaway (BRK.B) held its annual shareholder meeting, Greg Abel took a leading role as CEO while Warren Buffett remained involved as chairman and endorsed Abel’s leadership. The company reported an 18% increase in first-quarter operating profit and a record cash position of nearly $400 billion. Buffett highlighted the long-term success of its Apple investment and cautioned that current market conditions show signs of speculative behaviour. The company continues to favour disciplined investing, remains committed to its conglomerate structure, and has resumed share buybacks at a relatively modest pace.