He just filled that guzzler up with Mobil supreme. XOM! The most noteworthy change Buffett made to Berkshire's portfolio is the addition of a sizable new position – 40.1 million shares valued at $3.4 billion -- in energy super-major Exxon Mobil (XOM) . In fact, Buffett constituted roughly three-quarters of the position in the second quarter and obtained confidential treatment from the SEC in his previous filing as he continued to build the position.
In many ways, Exxon Mobil is an obvious choice for Berkshire's portfolio; here are three reasons Buffett selected it: