Overview
- Berkshire repurchased $4.5 billion of its own stock in the second quarter, the largest single‑quarter buyback since 2021.
- The company also used cash to build large equity positions, including a sizable stake in Alphabet, and to buy homebuilder Taylor Morrison, which together materially reduced its cash and Treasury holdings.
- Berkshire’s stated repurchase policy limits buybacks to times when management believes shares trade well below intrinsic value, so the buyback is widely read as a signal that executives see the stock as undervalued.
- The $4.5 billion repurchase bought less than 0.5% of outstanding shares and annualizes to roughly a 1.8% repurchase rate, so the action is meaningful as a signal but small relative to Berkshire’s size.
- Investors are watching forthcoming regulatory disclosures and future buyback announcements to judge whether this faster, more concentrated deployment under Greg Abel and Warren Buffett will create stronger long‑term returns.