Berkshire Hathaway more than doubled its share buybacks in the third quarter, even as its profits fell, according to a CNBC report.
The Greg Abel-led conglomerate repurchased $9.6 billion of its stock. That compares with $4.5 billion in the second quarter. Total buybacks for 2026 reached about $14.4 billion.
Berkshire's operating earnings, which come from wholly owned businesses, fell 5.8% year over year to $12.705 billion. Insurance underwriting dropped 43% to $1.352 billion. Insurance investment income declined 14% to $2.734 billion. The railroad, energy and manufacturing businesses all grew earnings year over year.
Overall earnings, which include the stock portfolio, fell 28% to $22.112 billion. Investment gains fell nearly 50% to $9.407 billion.
Berkshire's Class A shares rose more than 12% over the past month, while the S&P 500 fell 5.5% in that period, the report said. The stock is up 13% year to date, compared with a 7.8% gain for the broad market index.
The five largest equity holdings stayed the same in the quarter: Alphabet, American Express, Apple, Bank of America and Coca-Cola.
Cash holdings rose 3% to $377.435 billion from $365.514 billion in the second quarter. Excluding rail and utility cash and T-bill payables, cash totaled $352.3 billion, down 1.9% from the prior quarter.