Those buybacks come during a tough period for Berkshire Hathaway.
Berkshire Hathaway's P&C reinsurance premiums written increased by $668 million (29%) in the second-quarter of 2020 and $1.2 billion (20%) for the first six months of the year.
Aramco, which is no longer the world's most valuable company (Apple), confirmed it'll still pay out $75 billion in dividends this year.
The pandemic weighed on units ranging from Precision Castparts to the footwear and apparel businesses. Precision ended 2019 with 33,417 employees, and has shed 30% of its workforce.
Mr Buffett piled into his firm's stock as Class A shares fell 1.7 per cent and Class B shares were down 2.4 per cent in the second quarter.
It would have topped $US150 billion had Buffett not used some of the "float" to make the biggest share buyback since 2018 when the company made a decision to use active capital management to soak up some of the surplus.
The four analysts surveyed by FactSet expected operating earnings per Class A share of $3,182.06.
The coronavirus pandemic also had a negative impact on the company's results.
Meanwhile, Occidental Petroleum Corp, where Berkshire invested $10 billion last August, has also pummeled by sinking oil prices.
Stock Swings Net earnings surged almost 87% in the second quarter, driven by swings in Berkshire's $207 billion stock portfolio.
Operating profit fell 10%, cushioned by a temporary bump at the Geico auto insurer, as the pandemic caused "relatively minor to severe" damage to most of Berkshire's more than 90 operating businesses. But the railroad was able to cut its operating expenses 26% to help offset the lower volume.
BNSF reported reduced revenues across the variety of goods it carries on its rails, including agricultural products, consumer items, industrial cargo and coal, but the business was able to eke out more cost savings in the quarter.
AFPEdward Jones analyst Jim Shanahan estimated that Berkshire repurchased about $2.4 billion more of its stock in July.
Buffett also found a way to use more of that cash after the quarter ended.
After the June quarter, Buffett entered into an agreement to buy Dominion Energy's natural gas pipeline and storage business for $ 4 billion. Buffett's company booked a $10bn impairment charge tied to its Precision Castparts business in the second quarter, and warned that it might take a vaccine to get that market back to more normal levels.
Also denting its P&C reinsurance result, was adverse development related to prior years loss events amounting to $439 million, related to legacy environmental, asbestos and other latent injury claims, the company said.
The group, which has major investments in giants such as American Express, Apple, Bank of America and Coca-Cola, said it expects the coronavirus pandemic to continue to affect its operations but can not predict the exact consequences.