$380 billion

Berkshire Hathaway's mountain of cash and Treasury bills hit a record amount just above this level at the end of March.

This Saturday morning, when Berkshire reports earnings, I'll be watching where that number goes next-and where the company is putting its cash to work.

Berkshire CEO Greg Abel inked two megadeals in the past few months that might have made a small dent in the cash pile-a $6.8 billion purchase of the home builder Taylor Morrison Home and a $10 billion investment in Alphabet shares.

Berkshire also could have used that cash to repurchase its own shares, after buying back stock earlier this year for the first time since 2024. Berkshire's Class A shares have gained 3.1% this year, behind the S&P 500 index's 13% gain.