S&P 500 Buybacks Reached $1.02 Trillion in 12 Months Through Sept. 2025

S&P 500 companies repurchased $1.02 trillion in shares during the 12-month span ending in September 2025, highlighting a large channel of shareholder returns as a separate measure later reached $1.10 trillion.

The September 2025 total was 11.1% higher than the $918.4 billion recorded in the preceding 12-month period. Repurchases reached $249 billion in the third quarter of 2025.

Dividends added $664.9 billion in the 12 months through September 2025. Combined with buybacks, they brought shareholder returns to a record $1.685 trillion for the period.

A separate calculation tallied $1.10 trillion in gross buybacks over the 12 months through June 2026. Repurchases by financial companies totaled $287 billion in that June-ending period. The two measures cover different windows and use different data methods, so they do not show a direct increase from one period to the other.

Apple led S&P 500 companies in repurchases in the 12 months through September 2025, at $96.7 billion. Alphabet followed with $55.8 billion, then NVIDIA with $51.8 billion, Meta Platforms with $44.2 billion and JPMorgan with $27.6 billion.