What has Warren Buffett been buying?

Here is what Warren Buffett has been buying and what I think it shows about his views on the stock market.

| More on:

The content of this article was relevant at the time of publishing. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article.

Warren Buffett at a Berkshire Hathaway AGM

Image source: The Motley Fool

When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in.

Read More

The content of this article is provided for information purposes only and is not intended to be, nor does it constitute, any form of personal advice. Investments in a currency other than sterling are exposed to currency exchange risk. Currency exchange rates are constantly changing, which may affect the value of the investment in sterling terms. You could lose money in sterling even if the stock price rises in the currency of origin. Stocks listed on overseas exchanges may be subject to additional dealing and exchange rate charges, and may have other tax implications, and may not provide the same, or any, regulatory protection as in the UK.

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More.

Warren Buffett’s company, Berkshire Hathaway (NYSE:BRK-B), filed its 13F last night. This is a report of a company’s investment portfolio as of the end of the previous quarter. I think that it can also help me get an insight into how someone is thinking about stocks, markets, and investing. So what has Warren Buffett been buying? And what does this tell me about his thoughts on investing?


Between October and December 2021, Berkshire Hathaway added to its investments in oil major Chevron, hard flooring retailer Floor & Decor Holdings, high-end furnishing company RH, and media conglomerate Liberty Sirius XM. It also made new investments in computer game developer Activision Blizzard, Brazilian bank Nu Holdings, and media conglomerate Liberty Media Formula One

I view some of these as more significant than others. Berkshire’s investment in Nu Holdings was known before, so it is not a surprise that it now appears on Berkshire’s 13F following the company’s IPO. I also don’t think that the company’s investment into Liberty Sirius XM is particularly significant, since it effectively replaces a position in Sirius XM Holdings. I see the investments into Chevron and Activision Blizzard as the most significant.


Warren Buffett added 33% to Berkshire’s investment in Chevron, making the oil major Berkshire’s ninth-largest holding. I think this is significant because Chevron’s share price performed well towards the end of 2021. Nonetheless, Buffett continued to view Chevron stock as a buy even as the price increased. This is interesting to me. I think this indicates that Buffett is clearly optimistic on the long-term future for oil and gas.

Watching Buffett building Berkshire’s stake in Chevron has been interesting to me. Buffett began buying Chevron shares (along with shares in Verizon) at the end of 2020. At the time, he sought permission to keep Berkshire’s interest in the company private, to avoid drawing attention to the investment. I think this indicates that Buffett views Chevron as one of the more important investments in Berkshire Hathaway’s portfolio.

Activision Blizzard

I also find Berkshire’s investment in game developer Activision Blizzard interesting. Unlike Chevron, I don’t think that Buffett personally made the investment into Activision. I take the view that it is more likely that the investment was made by Todd Combs, one of the capital allocators at Berkshire, with Buffett’s support. I therefore don’t believe that the Activision investment tells me much about Buffett’s thinking specifically.

The reason I see the Activision Blizzard investment as interesting is that it was made before Activision’s deal to be acquired by Microsoft was announced in January. While I doubt that the possibility of Microsoft acquiring the company was part of Berkshire’s investment thesis, I do think it likely that Berkshire will have benefited significantly from the resulting jump.


Berkshire’s 13F tells me a lot about what the company has been buying. But what stands out to me the most is that Warren Buffett is still highly selective about his investments. With around $160bn in cash available, Buffett decided to keep most of it on the sidelines. I view this as a clear indication that Buffett does not see substantial opportunities in the stock market right now. And this, I think, makes the investments that he did make at the end of last year all the more significant.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Stephen Wright owns Berkshire Hathaway (B Shares) and Verizon shares. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Microsoft. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

More on Investing Articles

Investing Articles

Penny stocks to consider buying while their prices are this cheap

Some of the penny stocks I've been watching have already climbed above the 100p level. But I see potential in…

Read more »

Mature Caucasian woman sat at a table with coffee and laptop while making notes on paper
Investing Articles

Revealed! One of the hottest growth, value, and dividend shares to buy today

This high-dividend, low-cost company is also one of the London stock market's most exciting growth shares, writes Royston Wild.

Read more »

Investing Articles

£20,000 in savings? Here’s how I’d target a £2,219 monthly passive income with FTSE 100 shares

Investing in FTSE 100 shares can be a great way to turn a regular investment into a life-changing passive income…

Read more »

Investing Articles

These are the most popular 2024 Stocks and Shares ISA picks so far

After a few tough years, it looks like the 2024 Stocks and Shares ISA season is getting off to a…

Read more »

Investing Articles

This FTSE 100 ETF may be the simplest way to become a stock market millionaire

Ben McPoland considers one very straightforward stock market investing strategy that could lead to a million-pound portfolio.

Read more »

Investing Articles

I’d buy 11,220 Legal & General shares for £200 a month in passive income

Our writer considers how much money investors would have to put into Legal & General (LON:LGEN) shares to target £2,400…

Read more »

Fireworks display in the shape of willow at Newcastle, Co. Down , Northern Ireland at Halloween.
Investing Articles

These 2 magnificent FTSE 250 shares are on sale right now!

These FTSE 250 companies still look cheap, despite recent share price gains. Here's why our writer Royston Wild thinks they’re…

Read more »

Blue NIO sports car in Oslo showroom
Growth Shares

Down 36% in 2024, how low could NIO shares go?

The electric vehicle sector has seen some tremendous volatility in recent years, but what does the future hold for NIO…

Read more »