Buffett's Berkshire held about $114 billion in cash in the first quarter, up from the end of 2018

Warren Buffett’s Berkshire Hathaway Inc. BRK.A, -2.06% BRK.B, -2.26% is stacked with cash, as the most recent financial update from the investment conglomerate reveals. Berkshire’s first-quarter results were released ahead of the company’s well-attended shareholder meeting in Omaha, Neb. and beyond showing a roughly $21.66 billion profit, it also showed that Berkshire is holding onto a lot of cash. Indeed, Berkshire held about $114 billion in cash at the end of 2019’s first three months, up from almost $112 billion at the end of 2018. The cash pile is one reason why Buffett & Co., has been elephant hunting, looking for large investments to put the company’s money to work. Thus far this year Berkshire shares have climbed more than 7%, compared with a gain of 17.5% for the S&P 500 index SPX, -0.98% a return of 13.6% for the Dow Jones Industrial Average DJIA, -0.91% and a 23% rise for the Nasdaq Composite Index COMP, -1.14%

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