Warren Buffett (Trades, Portfolio)'s Berkshire Hathaway has made significant stock purchases, acquiring over $560 million worth of shares in Occidental Petroleum (OXY, Financial), Sirius XM, and Verisign over three days. Specifically, Berkshire increased its stake in Occidental Petroleum by purchasing nearly 8.9 million shares for $405 million, raising its ownership to over 28%. Occidental is Berkshire's sixth-largest holding, following Apple, American Express, Bank of America, Coca-Cola, and Chevron. Additionally, Berkshire bought around 5 million shares of Sirius XM for $113 million and 234,000 shares of Verisign for $45 million. Analysts suggest these smaller transactions could be managed by Buffett's investment deputies.
Following these announcements, Occidental Petroleum's shares rose 3.9%, Sirius XM increased by 12.15%, and Verisign went up 2.79%. However, Occidental and Sirius XM have experienced significant declines this year.
