Buffett’s Berkshire Snaps Up Record $24.7 Billion of Own Stock

Warren Buffett’s Berkshire Hathaway Inc. bought back a record $24.7 billion of its own stock last year and said there’s more to come, as the conglomerate struggled to find other ways to deploy its enormous pile of cash.

The company’s purchase of $9 billion of shares in the fourth quarter matched a record set in the previous three-month period, Buffett said Saturday in his annual letter to investors.

Berkshire CEO Warren Buffett

Photographer: Andrew Harrer/Bloomberg

“Berkshire has repurchased more shares since year-end, and is likely to further reduce its share count in the future,” Buffett, 90, said in the letter. “That action increased your ...