Berkshire Hathaway CEO Greg Abel meets with shareholders at Berkshire Hathaway’s annual shareholder meeting in Omaha, Nebraska, May 1, 2026.
David A. Grogan | CNBC
OMAHA, Nebraska — Stockholder Shopping Day begins Berkshire HathawayThere was a mood of cautious optimism in the air at the company’s annual general meeting, as new and returning investors considered the company’s direction under a new chief executive.
On Friday, shareholders in a noticeably thinner crowd expressed skepticism that Greg Abel, who took over as CEO in January, would command the stage with the same storytelling and wit that Warren Buffett and Charlie Munger have captivated tens of thousands of attendees for decades. At the same time, they expressed confidence in Buffett’s choice to succeed the conglomerate, as the billionaire investor has long been an ardent admirer of Abel.
“I spent a lot of time researching Greg,” said Robert Hagstrom, chief investment officer at Equity Compass Investment Management. “I think he’s not only the right person, he’s been vetted by a lot of people over the years, but he’s the right person at the right time.”
Hagstrom, who wrote about Buffett’s investment principles in “The Warren Buffett Way,” said Abel will bring operational expertise that aligns with Berkshire’s future.
Buffett’s confidence in his choices echoed throughout the convention center. Peter Yang, an international trade businessman who traveled 18 hours from Hong Kong to Omaha, attended the rally for the first time. He bought Berkshire stock last year after Buffett signaled he planned to step down as CEO. Yang said he was comfortable with the transition, noting that Buffett’s support for Greg Abel gives him confidence in his successor.
“I trust Greg because Warren won’t hand over the reins to someone incompetent. I’m not worried about the company,” Yang said.
Like other shareholders, Kim Shannon, founder and co-CIO of Toronto-based specialty asset management firm Sionna Investment Managers, said she expressed skepticism that Mr. Abel would be as entertaining on stage as Mr. Buffett and Mr. Munger, but expressed confidence that Berkshire’s principles will continue.
Mr Shannon said: “We will all be cautious about continuing the legacy, but I think some of his comments about continuing the legacy in this year’s annual report suggest that the legacy is structured to stand the test of time.” “And only time will tell.”
“For institutional investors like me, the reason we’re here is not just to see what’s happening on stage during the day of the annual meeting, but to meet our peers within the group,” Shannon added. “So for me it’s already a win and tomorrow could be a bonus.”
official pivot
Among the first-time participants was a farmer in his 60s from Wahoo, Nebraska, who said he made the trip after purchasing Berkshire stock five years ago. She expressed unwavering confidence in Buffett and said she views Abel as a reliable successor to his long-time role as Buffett’s right-hand man.
Still, she pointed to rising economic pressures, including inflation and affordability, as a top priority, adding that she hopes Mr. Abel will address those challenges more directly as he steps further into the spotlight.
On the East Coast, Wanda Lee and Susan Chan decided to skip this year’s conference and instead stream it from Chan’s home in Asbury Park, New Jersey. The two friends have been attending annual meetings off and on for about 15 years, leaving their husbands at home for girls’ trips to Omaha. But while Mr. Lee said he believed Mr. Buffett had good judgment in choosing Mr. Abel, he said he would pause this year to process a leadership change. She also has no plans to part with Berkshire’s Class B stock, which she first invested in 17 years ago.
“Saturday marks the beginning of Berkshire Hathaway’s formal pivot,” said Hagstrom of Equity Compass Investment Management. “And the whole world will see it.”
