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

According to Warren Buffett's Berkshire Hathaway Inc.'s (NYSE: BRK) third-quarter earnings report, the company's cash stockpile hit new heights at $149.2 billion, surpassing the previous record of $146.6 billion set in 2Q 2020.

Buffett's conglomerate, which holds stakes in Apple Inc (NASDAQ: AAPL), Coca-Cola Co (NYSE: KO), and other public companies, has spent $1.4 billion on stocks and sold $3.4 billion worth in the period. By comparison, the company bought about $1 billion worth and sold $2.1 billion of stock in the second quarter. 

Berkshire has spent $7.6 billion on share repurchases in the third quarter after slowing its rate of buybacks from $6.6 billion in the first quarter to $6 billion in the second quarter. 

So far, the company has repurchased just over $20 billion of its stock in 2021.

Berkshire's revenue climbed 12% to about $71 billion as many businesses rebounded from the pandemic. While its net income slumped by almost two-thirds to below $11 billion.

The losses from Berkshire’s insurance underwriting business widened to $784 million during the third quarter, compared to $213 million a year ago.

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