Buffett’s Berkshire Hathaway Increases Stake in Occidental Petroleum

Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway recently acquired shares in three companies, totaling over $560 million. Regulatory filings revealed these purchases included Occidental Petroleum, Sirius XM, and VeriSign.

The significant increase in Occidental Petroleum (OXY, Financial) shares drew market attention. Berkshire Hathaway invested approximately $405 million to acquire nearly 8.9 million shares, raising its stake to over 28%. This move led to a more than 5% surge in Occidental’s stock price.

In addition to Occidental, Berkshire bought around 5 million shares of Sirius XM for about $113 million and approximately 234,000 shares of VeriSign for roughly $45 million. These acquisitions also contributed to price increases in both Sirius XM and VeriSign stocks.

Analysts suggest Buffett sees these stocks as undervalued, with Occidental’s shares having dropped nearly 20% this year. Occidental now ranks sixth in Berkshire’s portfolio, following major holdings like Apple, American Express, Bank of America, Coca-Cola, and Chevron.

MORE IN INSIDE INVESTMENT NEWS

TSMC’s Sales Surge: AI Demand Fuels Bullish Outlook Amid Sector Volatility

Published: Monday, August 10, 2026 · 11:38 AM

AI Stocks Roar Back: Unpacking the Nasdaq’s 5.2% Surge and Portfolio Realignments

Published: Saturday, August 8, 2026 · 2:46 PM