Warren Buffett’s conglomerate Berkshire Hathaway made significant investments during a recent market downturn, purchasing shares of Occidental Petroleum, Sirius XM, and VeriSign. The Omaha-based company bought 8.9 million Occidental shares for $405 million, while acquiring 5 million Sirius XM shares for around $113 million and 234,000 VeriSign shares for roughly $45 million. These moves, worth over $560 million, appear to have taken advantage of the sell-off in these stocks. Berkshire now holds a significant stake in Occidental, surpassing 28%, while its investment in Sirius XM has grown to around 35%. The conglomerate’s bets on VeriSign and Sirius XM were likely made by Buffett’s lieutenants Todd Combs and Ted Weschler, given the smaller stakes involved.
Source: https://www.cnbc.com/2024/12/20/warren-buffetts-berkshire-hathaway-scoops-up-occidental-and-other-stocks-during-sell-off.html