Warren Buffett didn’t invest for a long time

Denver It was during a pandemic Warren Buffett Surprisingly restrained, the now 91-year-old star investor is once again active in the stock market. New additions to its $ 390 billion portfolio include equities Citigroup.. Buffett’s Holding Berkshire Hathaway of Omaha, Nebraska, for example, acquired nearly $ 3 billion at the end of the first quarter. This is evident from the mandatory notification to the U.S. Securities and Exchange Commission (SEC). Shares from Citigroup. lost a quarter of its value this year. But they rose more than two percent during trading hours on Monday.

Buffett has been investing in the financial sector for many years. His record is still considered a seal of quality. In addition, Berkshire has a position in Ally Financial, a financial company valued at around € 400 million.

Buffett manages a portfolio with two of his investment managers, Ted Weschler and Todd Combs. Buffett usually keeps it a secret who is behind which investment decision – but there are exceptions. In principle, decisions in excess of $ 10 billion are clearly related to Buffett, and decisions of up to $ 1 billion were most likely made by Weschler or Combs.

Focus on energy supplies

It was already known that Buffett had sold his shares in the energy company Chevron greatly expanded. It has more than tripled the number of shares it holds and now stands at $ 26 billion. The oil company is in fourth place on the list of largest stocks. Buffett also increased his stake in another oil company, Evening Oil. He already had both at the general meeting in early May communicated. But he has since bought more shares in Occidental Petroleum, albeit at a slower pace than in March, when we “bought everything we could,” Buffett said.

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Last week, the investor added another 902,000 shares to its portfolio for an average price of $ 57.32. As a result, Berkshire owns 15.3 percent of the $ 64 billion oil company. Shares of Occidental rose 118 percent year-over-year to close 5.7 percent on Monday. There is speculation in the market that Berkshire could take over the oil company completely, but this has not been confirmed.
Also new investments in media company Paramount Global, chemical company Celanese and drug distributor McKesson. Berkshire acquired $ 51 billion in shares in the first quarter alone. On the other hand, the holding company gave up shares in pharmaceutical companies Abbvie and Bristol-Mysers Squibb and reduced the shares of the telecommunications group Verizon 99 percent.

Add hours Apple

Also at Apple Buffett won the first half. He took advantage of Apple’s weakness and bought shares for $ 600 million. IPhone maker now owns $ 155.6 billion This is by far the largest position in the portfolio. Buffett’s chief investment officer, Weschler, is reportedly persuaded to join in 2016, according to Wall Street Journal reporter Tripp Mickle in his new book about Apple. Accordingly, Weschler told his boss about Berkshire board member Sandy Gottesman, who had left her iPhone in a taxi and felt “lost part of her soul.” Buffett later noticed how many people, including his grandchildren, keep in close touch with his iPhone. It finally convinced him.

Shares of Berkshire have rebounded from their peak in March and have risen by a good 2 percent since early January. Class A stocks are the most expensive in the world USA and closed at $ 464,250 on Monday. But because of that, Berkshire is still significantly better than the broader stock S&P 500, with whom Buffett likes to compare himself. The index has lost a good 16 percent since the beginning of the year.

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More: Beware of the Buffett effect: that’s why it’s dangerous to copy stellar investor stock purchases

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