The ongoing market sell-off has allowed billionaire investor Warren Buffet to buy the dip and add several new major positions as his investing conglomerate, Berkshire Hathaway, deployed tens of billions of dollars into stocks during the first quarter, according to new regulatory filings.
The investor bought the dip as the markets tanked.
During the first quarter of 2022, the market turbulence gave Warren Buffet's company an opportunity to enter into eight new positions and add to many others, with most of its buying activity occurring in early March.
The conglomerate disclosed several new stakes late on Monday, including 55 million shares of Citigroup and 69 million shares of Paramount Global.
A new stake of $390 million in Ally Financial was revealed last quarter, as well as a 10% stake in Paramount, which was formerly known as ViacomCBS.
On Tuesday, shares of all three companies jumped, following the news that Buffett had taken a position.
The moves had previously been disclosed, but they were also made in two energy companies.
The investment conglomerate now owns around 159 million shares in Chevron, which is worth around $27 billion, as well as over 120 million shares of HP, which is worth over $4 billion, and 64 million shares of Activision, which is worth $5 billion.
In the first three months of the year, the company spent more than $50 billion on stocks.
During the first quarter, two large stakes were exited by the company. Wells Fargo was a top holding in his portfolio and he sold all of his shares in the company. At the end of March, the 91-year-oldOracle of Omaha sold all of his $8 billion stake in the telecom giant.
According to Forbes calculations, that's how much Buffett is worth. He is the fifth-richest person in the world, with his net worth increasing by over $1 billion by midday on Tuesday as shares of his company jumped over 1%.
HP stock rocketed after Warren Buffet revealed a $4.4 billion investment.
The number of Wall Street experts who don't agree about rising risks of a recession is growing.
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