Warren Buffett, one of the world’s most renowned investors, has long been a source of inspiration for both seasoned and novice stock market enthusiasts. His investment decisions are closely followed by millions of people worldwide, with many investors seeking to replicate his success.
In this article, we highlight three stocks that Buffett’s Berkshire Hathaway recently purchased in the last three days. As a strategic investor, Buffett’s moves often signal potential opportunities, and tracking his portfolio has become a popular method for investors to identify promising stocks. Let’s explore these recent acquisitions and their potential impact on the market.
Warren Buffett’s Stock Market Shopping Spree
Warren Buffett’s Berkshire Hathaway recently made strategic moves in the stock market, purchasing significant shares during a December sell-off. Taking advantage of lower stock prices, the investment giant scooped up additional shares of Occidental Petroleum, Sirius XM, and VeriSign.
Over the course of three days, Berkshire invested more than $560 million in these stocks, showcasing Buffett’s ability to identify value during market pullbacks.
Berkshire’s Increased Stake in Occidental Petroleum
Among the largest purchases, Berkshire added 8.9 million shares of Occidental Petroleum for $405 million, increasing its stake in the Houston-based energy company to over 28%. Despite a 24% drop in Occidental’s shares this year, Buffett continues to back the energy producer.
The company’s significant drop in stock price, especially in December, appears to have offered Buffett an opportunity to purchase more shares at a discounted rate, solidifying Occidental as Berkshire’s sixth-largest equity holding.
Investments in Sirius XM and VeriSign
In addition to Occidental, Berkshire Hathaway also invested in Sirius XM and VeriSign. Berkshire bought around 5 million shares of Sirius XM for $113 million, and 234,000 shares of VeriSign for $45 million.
While these stakes are smaller, they are nonetheless notable, with the investments potentially managed by Buffett’s trusted lieutenants, Todd Combs and Ted Weschler. Sirius XM’s stock has been under pressure, falling 62% this year, while VeriSign’s stock has seen a modest decline of 6% in 2024.
Buffett’s Strategy Amid Market Volatility
Buffett’s recent purchases reflect his strategy of capitalizing on market volatility. As stocks like Occidental and Sirius XM experienced significant declines, Buffett viewed this as an opportunity to expand Berkshire’s holdings.
His long-term investment philosophy of buying undervalued assets continues to serve as a model for investors worldwide, reinforcing his reputation as one of the most successful investors of all time.
Written By: Dipangshu Kundu
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