- Warren Buffett had a busy first quarter
- The acclaimed investor purchased several energy stocks
- Berkshire Hathaway (NYSE:BRK-A, NYSE:BRK-B) has a top 10 holdings concentration of 87.2%
Warren Buffett purchased many new names during Q1, such as Paramount Global (NASDAQ:PARA) and Citigroup (NYSE:C). As of Q1, Berkshire Hathaway manages $363 billion in 13F securities. The hedge fund has an average holding period of 24.92 quarters, or a little over six years.
That in mind, investors can assume that Buffett plans on holding any new companies purchased in Q1 for the long term. So, without further ado, let’s dive into six stocks that Warren Buffett is buying in 2022.
Stocks Warren Buffett Is Buying: Chevron (CVX)
Chevron (NYSE:CVX) operates as a multinational energy corporation known mostly for its numerous gas stations. During the first quarter, Buffett reported increasing his existing position by 120.93 million shares, or 316%. Berkshire first purchased shares of CVX stock during Q4 2020.
As of Q1, Chevron is the fund’s fourth-largest position with a 7.02% allocation. As of Q1, the fund also purchased an additional 5.88 million shares of Occidental Petroleum (NYSE:OXY).
Paramount Global (PARA)
Paramount is another one of the new names added to Buffett’s portfolio during Q1. The company operates as an entertainment and media conglomerate. During the period, Paramount reported that it had 62 million streaming subscribers. Of those 62 million subscribers, almost 40 million were attributable to Paramount+.
Buffett disclosed purchasing 68.94 million shares during Q1. After the purchase, Paramount accounts for 0.71% of Berkshire’s portfolio, making it the 18th largest position.
Stocks Warren Buffett Is Buying: Activision Blizzard (ATVI)
In January, Microsoft (NASDAQ:MSFT) announced its intentions to acquire Activision Blizzard (NASDAQ:ATVI) for $95 per share, or $69 billion. Today, ATVI stock is trading just under $80.
As of May 2, Berkshire Hathaway owns around 74 million shares, which is equivalent to a 9.5% stake. Essentially, Buffett’s investment is an arbitrage bet that the transaction will go through. At the annual BRK meeting, Buffett said, “If the deal goes through, we make some money and if the deal doesn’t go through, who knows what happens.”
Next up, shares of C stock are trending higher by around 8% today after Berkshire disclosed a 55.15 million share position. This is the first time that Buffett has ever purchased shares of the financial services company.
After the purchase, Citigroup is Berkshire’s 15th largest position with a 0.80% portfolio allocation.
Stocks Warren Buffett Is Buying: General Motors (GM)
General Motors (NYSE:GM) has been making a hard push toward electric vehicles (EVs) lately– and Warren Buffett seems to approve. The legacy automaker plans on investing $35 billion into EV technology over the next few years. By 2025, General Motors plans on releasing 3o new electric vehicle models.
During Q1, Berkshire purchased 2.04 million shares of GM stock. After the purchase, the company is Berkshire’s 17th largest holding with a 0.73% portfolio allocation.
Restoration Hardware (RH)
Shares of Restoration Hardware (NYSE:RH) have gotten hammered this year. The furniture retailer has declined by more than 40% year-to-date (YTD). Inflation and supply-chain issues have contributed to the stock’s decline as well. However, Buffett seems to believe that now is a good time to buy RH stock.
Specifically, Berkshire purchased 353,453 shares during Q1. In total, RH stock is Berkshire’s 30th largest position with a 0.19% portfolio allocation.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.