⚡ Key numbers:
- $9.6 billion – Berkshire stock repurchased in Q3, up from $4.5 billion in Q2
- $12.705 billion – operating profit, down 5.8% year over year
- $377.435 billion – total cash and equivalents at the end of September 2026
- 43% – drop in insurance underwriting earnings to $1.352 billion
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Share repurchases surge amid lower operating profit
Berkshire Hathaway reported on Saturday that it accelerated share buybacks in the third quarter of 2026, repurchasing $9.6 billion of its own stock. That figure more than doubles the $4.5 billion spent in the second quarter and pushes the company's total repurchases for 2026 to approximately $14.4 billion.
The buyback increase arrived alongside weaker operating results across wholly-owned subsidiaries. Berkshire reported operating profit of $12.705 billion, down 5.8% from $13.485 billion a year earlier. The decline was driven primarily by the insurance operations, where underwriting earnings tumbled 43% to $1.352 billion and insurance investment income fell 14% to $2.734 billion.
Cash reserves expand to record levels
Earnings across Berkshire's railroad, energy, and manufacturing businesses expanded compared to the previous year, offering partial relief against insurance weakness. Total net earnings, which incorporate paper gains and losses in the stock portfolio, fell 28% year over year to $22.112 billion, with investment gains dropping nearly 50% to $9.407 billion.
Despite aggressive share buybacks, Berkshire's cash hoard continued to build. Cash and equivalents rose 3% over the quarter, increasing from $365.514 billion in June to $377.435 billion at the end of September.
Berkshire outperforms Wall Street during market rotation
Class A shares of Berkshire Hathaway have gained over 12% in the past month, contrasting sharply with broader market weakness. Year to date, Berkshire shares are up 13%, outpacing the benchmark index, which has risen 7.8% over the same timeframe.
Investors also tracking Berkshire's portfolio moves are looking ahead to third-quarter disclosures. In the second quarter, Berkshire purchased $7 billion of Alphabet shares on the open market, having built a $37.8 billion stake by June 30. A modest $27 million addition to its Sirius XM holding also helped push the satellite radio company to a 52-week high earlier in the week.
What to watch next
- The upcoming 13F filing due in mid-November detailing Berkshire's equity portfolio adjustments
- US equity index performance as capital rotates out of volatile technology sectors into defensive names
- Reactions across global asset markets following the US dollar index rise to 102.28 on Friday
Frequently asked questions
How much stock did Berkshire Hathaway buy back in Q3 2026?
Berkshire Hathaway repurchased $9.6 billion of its own shares in the third quarter of 2026, compared with $4.5 billion in the previous quarter.
What drove the decline in Berkshire's Q3 operating profit?
Operating earnings dropped 5.8% to $12.705 billion largely due to insurance underwriting profits falling 43% and insurance investment income declining 14%.
How large is Berkshire Hathaway's cash pile?
Berkshire's cash reserves reached $377.435 billion at the end of the third quarter of 2026, up 3% from $365.514 billion at the end of the second quarter.
Sources: CNBC, Bankier.pl, Comparic, The Guardian, MarketWatch, Yahoo Finance.
Disclaimer: This article is for information purposes only and does not constitute investment advice. Data as of Nov 7, 2026, 18:09 may vary by source. Trading leveraged CFDs carries a high risk of losing money.
