OMAHA, Neb. (AP) — Warren Buffett’s Berkshire Hathaway conglomerate is still aggressively buying back its own stock to make use of some of its huge pile of cash.
Berkshire has repurchased roughly $6.5 billion of its own shares so far in the second quarter. That follows $6.6 billion worth of repurchases in the first quarter and roughly $25 billion of them last year.
The latest repurchases were revealed Wednesday after Buffett donated $4.1 billion worth of stock to five foundations. Berkshire has turned to repurchases in recent years as a way to make use of some of its roughly $145 billion pile of cash as Buffett has struggled to find major acquisitions for the company.