On Wednesday Eastern Time, investment giant Berkshire Hathaway, a subsidiary of Warren Buffett, submitted a document to the Securities and Exchange Commission (SEC), stating that Berkshire has once again increased its holdings in Western Oil Company this week, with its stake having risen to over 27%.
Buffett once again increases his holdings in Western oil
According to the documents, in the first three days of this week, Berkshire increased its holdings in Western Oil stocks for three consecutive days, acquiring nearly 10.5 million shares of Western Oil Company for approximately $588.7 million, with an increase price between $55.58 and $57.04.
After this increase in holdings, Berkshire's holdings of Western Petroleum common stocks increased to 238 million shares, with a shareholding ratio of over 27.13% and a total market value of approximately 13.648 billion US dollars.
Berkshire also holds preferred shares and warrants of Western Oil, which can be exchanged for 83.8 million shares of Western Oil Company stock for $4.7 billion ($56.62 per share).
Since the beginning of last year, Berkshire has been continuously buying stocks of Western Oil and has become the single largest shareholder of Western Oil.
Berkshire's last disclosure of increased holdings in Western Oil was at the end of October this year. On October 25th, Berkshire increased its holdings of 3.9 million shares of Western Oil common stock, raising its stake to 25.8%, with a market value of approximately $14.4 billion at the time.
Recently, the stock price of Western oil has fallen, leading to a decline in Berkshire's market value. As of the close of Wednesday Eastern Time, Western Oil closed at $57.22 per share. Since the beginning of this month, Western oil has fallen by a cumulative 3.26%.
Berkshire is still reducing its holdings in HP
In addition to increasing his holdings in Western oil, Buffett has recently been reducing his holdings in PC manufacturer HP.
According to regulatory documents released on Monday Eastern Time, Berkshire Hathaway has reduced its stake in HP to 5.2%.
Berkshire had previously sold HP stocks for 9 consecutive days from mid September to early October, reducing its stake in the latter to around 10%.
Berkshire currently holds 51.5 million shares of HP stock, valued at approximately $1.6 billion based on Monday's closing price of $30.37. FactSet data shows that Berkshire remains the third largest institutional shareholder of HP, after BlackRock and Vanguard Group.