Buffett’s Berkshire adds to its holdings of Occidental Petroleum and SiriusXM

The Key Take-Aways

• Warren Buffett's Berkshire Hathaway has added to its holdings of shares of Occidental Petroleum and SiriusXM Holdings.
• Berkshire Hathaway bought 8.9 millions of shares from Occidental Petroleum, and 5.0 of SiriusXM Holdings.
• Yesterday, shares of both companies reached their lowest level since 2024.

Shares of Occidental Petroleum Holdings, SiriusXM Holdings, and Berkshire Hathaway increased by 4.5% and 10 %, respectively, after Berkshire Hathaway’s Berkshire Hathaway added to their holdings. 

In a recent regulatory filing by Occidental, the company reported that Berkshire bought about 8,9 million shares in the week between Monday and Thursday, at varying prices ranging from $45 to 46.92. Berkshire holds 264.2 millions common shares and 84,897 preferred stocks after these additions.

SiriusXM also said that Berkshire had bought approximately 5.0 million of the shares between $20.85 and $22.49, in those same three days. Berkshire owns now 117.5 millions shares.

Berkshire bought 7.3 millions shares in the oil company and 3.6 million of satellite radio service provider. 

Buffett probably wanted to take advantage of the current market dips by making these purchases. Occidental Petroleum shares and SiriusXM Holdings are both down nearly 60% and 20% respectively this year. Yesterday, they hit their lowest levels since 2024. 

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