July 20, 2024

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Warren Buffett Has Bought Shares of This Stock for 23 Consecutive Quarters — and It’s Not Chevron or Occidental Petroleum

2 min read

For almost 60 years, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett has been putting on a show for Wall Street. Since becoming CEO in 1965, the benchmark S&P 500 has increased by more than 35,000%, inclusive of dividends paid. By comparison, the affably dubbed “Oracle of Omaha” has overseen aggregate gains in his company’s Class A shares (BRK.A) of well over 4,900,000%!

When you crush Wall Street’s broadest-based stock index this decisively, you’re going to draw a lot of attention. This is why investors wait on pins and needles once each quarter for Berkshire Hathaway to file its Form 13F with the Securities and Exchange Commission. A 13F shows investors precisely what stocks Buffett and his top investment aides, Todd Combs and Ted Weschler, have been buying and selling.

A jovial Warren Buffett surrounded by people at Berkshire Hathaway's annual shareholder meeting.

Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.

Although Berkshire’s 13Fs have been a veritable gold mine for decades, they fail to tell the complete story about Warren Buffett’s favorite stock to buy — a company whose shares have been purchased for 23 consecutive quarters, dating back to July 2018.

Warren Buffett has a newfound fascination with energy stocks

One of the more interesting aspects of Berkshire’s 44-stock, $387 billion investment portfolio is that it’s highly concentrated. This is to say that Buffett and his team strongly believe in putting more of their company’s capital to work in their best investment ideas. As of June 14, roughly 63% of invested assets were tied up in only three stocks.

For decades, financial stocks (Buffett’s favorite sector to invest in) and consumer staples comprised a meaningful percentage of invested assets. But recently, we’ve witnessed Berkshire’s brightest minds gravitating to energy stocks.

Oil and gas stocks have mostly been an afterthought for the Oracle of Omaha since this century began. Yet as last week, Chevron (NYSE: CVX) and Occidental Petroleum (NYSE: OXY) combined to account for nearly $34 billion in market…



2024-06-21 05:06:00

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