Berkshire Hathaway Inc. repurchased $6 billion of Berkshire stock, despite having over $144 billion of funds at high disposal, according to a report by Bloomberg on Saturday.
Buffett’s has been faced with high-class challenges: having too much cash and limited investment opportunities.
Berkshire stock has expanded in recent months, and the larger stock market has become more expensive, with the S&P 500 Index climbing to new highs.
Buffet’s $6 billion of repurchases in Q2 ranks as the fourth-biggest quarter since the company started buybacks in 2018.
Berkshire sold around $1.1 billion of other stocks during the period, on a net basis, the lowest level of net sales in the last three quarters.
The stock sales largely came from the decline in its group of commercial, industrial, and other stocks. In the quarterly report, Buffet gave no signals on how he was planning to use his cash pile. BRK up +2.10%.