Berkshire Hathaway reported a substantial rise in share buybacks, purchasing $9.6 billion worth of its stock in the third quarter, more than double the $4.5 billion from the previous quarter. This brings the total buybacks for 2026 to approximately $14.4 billion.
The increase in buybacks comes as the company faced a 5.8% decline in operating profits, totaling $12.705 billion, primarily due to a 43% drop in insurance underwriting profits and a 14% decrease in insurance investment income. Overall earnings fell 28% to $22.112 billion, with investment gains nearly halving to $9.407 billion.
Despite these challenges, Berkshire's stock has performed well, gaining over 12% in the past month, contrasting with a 5.5% decline in the S&P 500. Year-to-date, Berkshire's stock is up 13%, outpacing the broader market's 7.8% increase. The company's cash reserves grew by 3% to $377.435 billion, although cash holdings, excluding certain liabilities, decreased slightly.
Berkshire's largest equity holdings remained unchanged, including major companies like Alphabet, American Express, and Apple