Berkshire Kept Buying Back Stock as Shares Hit Records. Here’s What the Price It Paid Tells You.

Berkshire Hathaway spent $9.6 billion on share buybacks in Q3 2026, more than double Q2's spending. The company only repurchases shares when CEO Greg Abel believes the price is below conservatively determined intrinsic value. Class A shares have since climbed nearly 14% above September's average purchase price of $758,333, suggesting the stock may have moved beyond management's valuation comfort zone, potentially prompting a pause in buybacks.