Billionaire Warren Buffett just poured more than half a billion dollars into three assets.
After dumping huge positions in Apple and Bank of America and hoarding $325 billion in cash, a new SEC files show that the chairman and CEO of Berkshire Hathaway bought Occidental Petroleum (OXY) for $405 million.
Occidental Petroleum is a global energy company engaged in the exploration and production of oil and gas, with further ventures in chemicals and low-carbon initiatives.
OXY is down 21% since the start of 2024, falling from $60.05 to $47.13 at the time of publication.
Meanwhile, Buffett also bought $113 million in Sirius XM Holdings (SIRI) and $45 million in VeriSign (VRSN).
Sirius
VeriSign is a global provider of domain name registration services and Internet security solutions, whose shares are down 1.35% this year, from $201.56 to $198.84.
Buffett completed the purchases of the three companies last week and had to report the purchases immediately because Berkshire now owns more than 10% of each company.
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