Berkshire's new CEO Greg Abel is starting to put their $366 billion cash hoard to use. After a pause on stock buybacks, they repurchased $235 million in Q1. That ramped up to $4.5 billion in Q2, with another $3.3 billion last month. Operating profits are up 16% year over year, mostly from their energy and manufacturing sectors, though insurance dropped 9%. They also bought more stocks than they sold in Q2, adding about $20 billion to their portfolio. It looks like management believes the stock is currently undervalued.