I am by no means alone in this tactic. The top four stocks in Berkshire Hathaway's portfolio are share repurchasers, namely American Express, Coca-Cola, IBM and Wells Fargo. It's simple math: If a company decreases shares outstanding and increases its EPS, price multiples expand. The key according to Warren Buffett is to make sure the buyback company is retiring stock that is selling below its so-called intrinsic value.