Warren Buffett, the prominent leader of Berkshire Hathaway, has undertaken notable investments following substantial cash influx from selling shares in Apple and Bank of America. Recent filings with the SEC reveal that Buffett has allocated $563 million into three distinct companies.
How Much Did Buffett Invest in Occidental Petroleum?
Buffett funneled $405 million into Occidental Petroleum (OXY), a global player in oil and gas exploration and production. The firm is also delving into chemicals and low-carbon initiatives. Despite its potential, OXY shares have seen a 21% decline in value since the start of 2024.
What Investment Did Buffett Make in Sirius XM?
In addition, Buffett committed $113 million toward Sirius XM Holdings (SIRI), which provides satellite radio services across North America. The stock has experienced a steep fall, plummeting 57% since the beginning of the year.
Buffett also invested $45 million into VeriSign (VRSN), a company specializing in domain name registration and internet security. This stock has dipped slightly by 1.35% in 2024. These acquisitions occurred last week, and due to Berkshire’s ownership exceeding 10% in each company, they are required to report these purchases.
- Buffett’s investments reflect a strategy to diversify across various sectors.
- Energy, media, and internet security are targeted for their long-term growth potential.
- The current market volatility may boost Buffett’s confidence in these companies.
Buffett’s strategic investments are under significant market scrutiny, and discussions surrounding Berkshire Hathaway’s influence on the overall market continue to intensify.
