Berkshire's operating earnings jump 34%, Buffett buys back no stock and raises cash hoard to $381 billion

Warren Buffett's Berkshire Hathaway reported a crisp rebound successful operating nett connected Saturday, portion its currency heap swelled to a caller precocious with nary buybacks.

Berkshire's operating nett generated from the conglomerate's wholly owned businesses including security and railroads jumped 34% twelvemonth implicit twelvemonth to $13.485 cardinal successful the 3rd quarter. The gains were driven by a much than 200% surge successful security underwriting income, which roseate to $2.37 billion.

Buffett erstwhile again refrained from repurchasing shares contempt a important pullback successful the stock. The institution said determination were nary stock buybacks during the archetypal 9 months of 2025. Class A and B shares of the conglomerate are up 5% each successful 2025, portion the S&P 500 is up 16.3%.

Without immoderate buybacks, Berkshire's currency hoard swelled to a grounds $381.6 billion, surpassing the erstwhile precocious of $347.7 cardinal acceptable successful the archetypal 4th of this year.

Berkshire besides didn't find different stocks attractive, nett selling equities successful the 3rd 4th for a taxable summation of $10.4 billion.

Berkshire Hathaway people A shares twelvemonth to date

The 95-year-old Buffett successful May announced he's stepping down arsenic CEO at the year-end aft six legendary decades. Greg Abel, Berkshire's vice president of non-insurance operations, is acceptable to instrumentality implicit arsenic main executive, portion Buffett volition stay president of the board. Abel volition besides commencement penning yearly letters successful 2026.

The Omaha-based conglomerate's shares person tumbled treble digits from all-time highs pursuing the announcement. The sell-off partially reflects the alleged Buffett premium, oregon the other terms investors are consenting to wage due to the fact that of the billionaire's unmatched grounds and exceptional superior allocation skills.

Last month, Berkshire announced a woody to buy Occidental Petroleum's petrochemical unit, OxyChem, for $9.7 cardinal successful cash. The woody marks Berkshire's largest since 2022, erstwhile it paid $11.6 cardinal for insurer Alleghany.