Warren Buffett, CEO of Berkshire Hathaway (NYSE:BRKa), along with his investing lieutenants Ted Weschler and Todd Combs, have been making significant investments in the energy sector, specifically in Occidental Petroleum (NYSE: NYSE:OXY). Since 2022, they've procured over 228 million shares at an estimated cost of $11.2 billion. The decision to invest in Occidental Petroleum was driven by expected high crude oil prices and the company's drilling-based revenue. Additionally, Berkshire Hathaway holds warrants for Occidental common stock, part of a deal that facilitated Occidental's acquisition of Anadarko in 2019.
However, Buffett's preferred investment remains Berkshire Hathaway itself. Since 2022, Buffett and Executive Vice Chairman Charlie Munger have sanctioned nearly $14 billion worth of share buybacks. This is in addition to the $71 billion worth of share repurchases they've overseen since mid-July 2018 over 20 quarters. These buybacks aim to enhance the appeal of the business to investors, reward long-term investors by increasing their ownership stakes, and demonstrate Buffett's confidence in the company he's built over nearly six decades. It's worth noting that this strategy mirrors Apple (NASDAQ:AAPL)'s successful buyback approach.
Transparency in Berkshire Hathaway's trading activities is ensured through its mandatory SEC filings, specifically the Form 13F and Form 4. These forms provide detailed information about positions where Berkshire Hathaway holds at least a 10% stake in a public entity.
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