10 Stocks That Warren Buffett Purchased and Sold Recently

What stocks have Warren Buffett recently purchased and sold? Investors may get a behind-the-scenes look at some of the biggest and most successful hedge funds and asset managers in the world thanks to the form 13F, which is required of all fund managers with at least $100 million in assets each quarter.

Berkshire Hathaway Inc., the $684 billion firm owned by Buffett, releases one of the most eagerly awaited quarterly reports (ticker: BRK.A, BRK.B).

Here are 10 of the greatest alterations to Berkshire’s stock portfolio that the Oracle of Omaha made during the third quarter.

10 Stocks That Warren Buffett Purchased and Sold Recently (Photo: Kent Sievers / Shutterstock.com)

Jefferies Financial Group Inc. purchased (JEF)

Warren Buffett only purchased shares of Jefferies Financial, a diversified provider of banking, financial services, and asset management, in the third quarter.

After a 2021 investment banking boom, Jefferies shares have fared well in a 2022 environment that is challenging for investment banks, decreasing just 2.9% as of November 15.

By Berkshire standards, Warren Buffett’s third-quarter buy of 433,558 shares of JEF stock represented a fresh position worth $12.8 million. Investors shouldn’t be shocked, though, if Buffett increases his Jefferies holding in the fourth quarter and beyond.

Store Capital Corp. was sold (STOR)

A net-lease real estate investment trust called Store Capital holds single-tenant residential buildings. Unfortunately, restaurants, fitness clubs, theaters, and other companies that were adversely impacted by the pandemic account for a sizable percentage of Store’s rental income.

As a result, since the start of 2020, the stock has produced a negative total return of 2.2%. Since Warren Buffett made his initial investment in Store in 2017, its cumulative performance has approximately tracked that of the S&P 500 as a whole.

In the third quarter, Berkshire completely sold off its approximately 6.9 million remaining shares of STOR stock.

Paramount Global was bought (PARA)

In 2019, Viacom and CBS merged to create Paramount Global, a global entertainment corporation. The business owns Paramount Pictures TV and film studios, CBS and Comedy Central, as well as the streaming services Paramount+, Showtime OTT, and Pluto TV.

Another typical Warren Buffett bargain buy, Paramount is currently trading at 14.5 times anticipated earnings and 0.4 times sales.

In the third quarter, Berkshire boosted its ownership of Paramount by 16%, to more than 91.2 million shares, valued at around $1.7 billion. The company is now Paramount’s largest stakeholder with a 13% stake, according to Berkshire.

Louisiana-Pacific Corp. was purchased (LPX)

Oriented strand board, siding, and other engineered wood products are produced by Louisiana-Pacific, a corporation that deals in forest products.

The corporation has a considerable exposure to the slowing U.S. housing market in 2022 as a result of rising interest rates. Given that the company is cheaply positioned at just 13 times forward earnings, Buffett might view it as a bet on the inevitable recovery of the housing market.

In the third quarter, Warren Buffett made a brand-new stake in Louisiana-Pacific. In the quarter, Berkshire purchased 5.8 million shares of LPX stock for a total investment of nearly $296.7 million.

Bank of New York Mellon Corp. was sold (BK)

As a trust bank, Bank of New York Mellon has a distinctive business strategy that involves handling cash for substantial investment funds, providing ongoing finance for significant firms, and acting as a fixed-income clearing company.

The bank earns a large portion of its revenue through transaction fees rather than taking on credit risk by making large loans. Buffett made his initial investment in BK stock in the third quarter of 2010, but in the same quarter, he decreased his holding by around 14%.

Berkshire still owns approximately 62.2 million shares, valued at about $2.4 billion, even after selling.

Activision Blizzard Inc. was sold (ATVI)

Activision Blizzard, a publisher of video games, will be acquired by Microsoft Corp. (MSFT) for $68.7 billion, or $95 per share.

Investors at Berkshire at the time were unaware that Buffett’s business had just weeks earlier paid an average price of roughly $77 for nearly $1 billion worth of Activision Blizzard shares.

Berkshire sold more than 8.2 million shares in the third quarter, reducing Buffett’s merger arbitrage wager even though Activision shares were still trading at a significant discount to their $95 purchase price. Currently, Berkshire owns 60.1 million ATVI shares valued at approximately $4.5 billion.

Chevron Corp. was purchased (CVX)

In the fourth quarter of 2020, Warren Buffett made his first investment in Chevron, a significant American oil company. Since then, the oil business has experienced ups and downs.

In the first and second quarters of 2021, Warren Buffett sold off his Chevron holdings, but the world energy crisis and Russia’s invasion of Ukraine caused crude oil prices to skyrocket to 13-year highs in 2022.

As a result, Warren Buffett increased his Chevron interest in the first and second quarters and added to it in the third quarter by purchasing more than 3.9 million shares, bringing his total stake to 165.4 million shares, or nearly $23.8 billion.

U.S. Bancorp was sold (USB)

In the past, Warren Buffett has placed significant wagers on bank stock. After more than 20 years of holding the stock, Berkshire eventually sold its last remaining shares of Wells Fargo & Co. (WFC) in the first quarter of 2022, making U.S. Bancorp the company’s longest-standing bank stock holding.

Warren Buffett made his initial investment in U.S. Bancorp in 2006, but in the third quarter he reduced his holding by 31%. U.S.

Bancorp trades at a forward earnings multiple of only 8.7, making it a classic Buffett value purchase. More over 53 million shares still remain in Berkshire’s possession, worth more than $2.2 billion.

Occidental Petroleum Corp. was purchased (OXY)

One of the biggest oil and gas firms in the United States is Occidental Petroleum, and oil and gas equities have outperformed all other market segments in 2022.

Since Berkshire helped finance Occidental’s $38 billion acquisition of Anadarko Petroleum in 2019, Warren Buffett has invested in the company.

Berkshire’s investment in Occidental has increased to more than 194.4 million shares, valued at approximately $11.9 billion, according to the most recent 13F filing, making OXY stock Buffett’s sixth-largest stock holding.

Additionally, 83.9 million warrants that can be exchanged for Occidental common stock at a cost of $59.62 per share are held by Berkshire.

Purchased: Taiwan Semiconductor Manufacturing Co. (TSM)

Taiwan Semiconductor was the most unexpected item in Berkshire’s third-quarter 13F filing. Taiwan Semiconductor shares had dropped 39.5% year to date when Berkshire filed its documents on November 14 due to a sluggish global semiconductor market.

The U.S. Department of Commerce imposed new limitations on advanced chip sales to China in October, which negatively impacted investor sentiment in the semi-stock market.

The global unpredictability appears to present Buffett with a purchasing opportunity.

In the third quarter, Berkshire bought a fresh position in TSM, acquiring more over 60 million shares for a total value of roughly $4.1 billion. One of Berkshire’s top 10 publicly traded stock holdings at the moment is Taiwan Semiconductor.