Berkshire Hathaway CEO Greg Abel also continued his first share buyback since 2024 when he bought stock.

Berkshire Hathaway is starting to buy back its own shares for the first time starting in the second quarter of 2024, according to a new regulatory filing that shows the conglomerate sees the stock trading below intrinsic value.

The company announced on March 4 that it began buying back Class A and Class B shares, which allows Berkshire's management to buy back shares whenever it believes the market price is below a conservative estimate of its intrinsic value.

The move comes as Berkshire sits on $373.3 billion in cash and short-term investments during the final years of Warren Buffett's leadership and is now under the control of CEO Greg Abel.

Under Berkshire's policy, the company is not obligated to repurchase a certain number of shares. Acquisitions may be made through open market purchases or private negotiations and may be suspended at any time depending on stock price, market conditions and other factors. www-sec-gov-archives-edgar-data…

Separately, regulatory filings show CEO Greg Abel bought about $15 million worth of Berkshire Class A shares, bolstering his confidence in the company's long-term valuation.

Abel acquired 21 Class A shares through the family trust for about $730,000 each, bringing his holdings in Berkshire stock to hundreds of millions of dollars.

The announcement of the buybacks comes amid an ongoing leadership transition at Berkshire following Buffett's departure as CEO, and the company made the announcement in the interest of transparency.