Net income for the Omaha-based firm more than doubled, reaching $25.67 billion compared to $12.37 billion in the same quarter last year. This sharp increase reflects the volatility and subsequent recovery inherent in the company’s massive equity holdings, which remain central to Warren Buffett’s investment strategy.

Beyond earnings, the company ramped up its capital allocation activities by repurchasing $4.5 billion of its own shares. This move signals a return to aggressive buybacks, marking a distinct shift from the nearly two-year hiatus that ended earlier this spring.