Berkshire Hathaway repurchased a record $9.6 billion of its own shares in the third quarter of 2026, roughly twice the amount spent during the first six months and above its previous quarterly record of about $9.3 billion. Net income fell 28% to $22.11 billion from $30.80 billion, while operating earnings declined 5.8% to $12.71 billion as insurance underwriting and investment income weakened. BNSF railroad, Berkshire Hathaway Energy and manufacturing, service and retailing businesses reported stronger results. Berkshire repurchased about $2 billion more during the first four weeks of the fourth quarter, bought $2.4 billion of stocks and sold about $2.8 billion during the quarter, and agreed in July to buy home builder Taylor Morrison for $6.8 billion. Class B shares gained 13.6% this year, compared with 7.8% for the S&P 500.