Buffett Up’s Chevron Apple Holdings adds 8 shares in the first quarter

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Warren Buffett is finally back in the bull market in the first quarter of 2022. Buffett’s stock collection actually grew in the first three months of 2022, according to Berkshire Hathaway’s (BRK.B) 13F filing Monday afternoon.

It’s a refreshing change for Buffett’s supporters, who see the Oracle of Omaha and its team as net sellers for all four quarters of 2021.

Berkshire Hathaway’s 13F shows that the holding company spent $41.5 billion in net stock purchases in the first quarter — the highest since 2008 — and used nearly 30% of its massive cash hoard Invest in stocks. That included Buffett taking eight new positions and adding seven other stocks.

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Buffett and his team apparently used the market rout as an opportunity to buy back into 2022, with the S&P 500 down 13% from its all-time high at some point during the quarter. But as we pointed out recently, much of the buying spree in the first quarter was driven by rising inflation.

Oracle of Omaha also made some sales in the first quarter, exiting three positions entirely and reducing its holdings in four stocks.

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Let’s dive into the top adjustments for Buffett’s stock in the first quarter of 2022, based on Berkshire Hathaway’s 13F for the period ended March 31, 2022, filed on May 16, 2022.

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Berkshire 13F shows HP and Citigroup among Buffett’s Q1 purchases

Buffett’s spending spree included increasing his stake in blue-chip Apple Inc (AAPL), which he raided by buying 3.8 million shares of the tech giant after three days of losses in Dow Jones shares. Berkshire’s holding in Apple now makes up 42.8% of Berkshire’s stock portfolio.

However, as oil prices soared, Buffett’s bigger purchases came in the energy phase — with West Texas Intermediate crude futures up 33% in three months. Berkshire Hathaway bought an additional 120.9 million shares of Chevron (CVX), up 316%, and started taking a stake in Occidental Petroleum (OXY).

This isn’t the only new position at Berkshire. Oracle opens positions in financial stocks Ally Financial (ALLY), Citigroup (C) and Markel (MKL); takes 10.5 million shares in Hewlett-Packard (HPQ), making classic Buffett bet; enters materials company Celanese (CE) And into the media company Paramount Universal (PARA).

Berkshire also added to retail stocks Floor & Decor Holdings (FND) and RH (RH), as well as video game names Activision Blizzard (ATVI), racing company Formula One Group (FWONK) and automaker General Motors ( GM).

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