Berkshire Hathaway's Recent Stock Purchases
Buffett's Holding Company Adds to Existing Positions
Warren Buffett's Berkshire Hathaway has recently made several notable stock purchases, adding to its existing portfolio. These purchases include Chevron (CVX), Ally Financial (ALLY), and Paramount Global (PARA).
Chevron
Berkshire Hathaway increased its stake in Chevron by 51% in the first quarter of 2023. Chevron is a major oil and gas company that has benefited from rising energy prices. Its stock has performed well in recent months, and Berkshire Hathaway now owns over $25 billion worth of Chevron shares.
Ally Financial
Berkshire Hathaway has also been buying shares of Ally Financial, a financial services company. Ally Financial provides auto loans, mortgages, and other financial products. Its stock has been under pressure in recent months due to concerns about the economy, but Berkshire Hathaway has been taking advantage of the lower prices to increase its position.
Paramount Global
Paramount Global, formerly known as ViacomCBS, is another recent addition to Berkshire Hathaway's portfolio. Paramount Global is a media and entertainment company that owns CBS, MTV, and Nickelodeon. Berkshire Hathaway purchased over $2 billion worth of Paramount Global shares in the first quarter of 2023.
These stock purchases are all in line with Berkshire Hathaway's long-term investment strategy. Buffett and his team look for companies with strong fundamentals and competitive advantages that they believe can generate long-term returns for shareholders. The recent purchases suggest that Berkshire Hathaway is confident in the future prospects of these companies and the overall economy.
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