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

Berkshire Hathaway Inc (NYSE: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 (NASDAQ: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