Warren Buffett Has Spent More On Buybacks of Berkshire Hathaway Stock Than Adding To Position In Apple

Berkshire Hathaway Inc BRK has spent more money on buying back its own stock than adding to its position in the company’s biggest equity holding Apple Inc AAPL.

What Happened: Since the middle of 2018 through the end of 2020, Berkshire allocated $20 billion more for buybacks than purchasing additional shares of Apple.

According to a Bloomberg report, Warren Buffett spent about $51 billion on buybacks since a change in Berkshire’s policy over three years ago. The company repurchased $7.6 billion of its own stock in the third quarter of this year, and Berkshire has spent an additional $1.7 billion on buybacks since the end of September.

Buybacks have now overtaken the company’s largest holding. The company has purchased just $31 billion of Apple shares since it began accumulating a stake in 2016 through the end of 2020. Apple made up more than $121 billion of Berkshire’s holdings at the end of September.

A filing released on Saturday showed that at the end of the third quarter, Berkshire was holding a record $149.2 billion in cash, up from $144.1 billion in the second quarter. Berkshire is now valued at more than $650 billion.

Also See: Buffett's Berkshire Hathaway's Cash Pile Tops Record With $149.2B, Sold Net $2B Of Stock In Third Quarter