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Buffett’s Berkshire Hathaway is buying up Chevron, Citigroup, Paramount stocks

In this article:
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Yahoo Finance's Jared Blikre breaks down the stocks Warren Buffett's Berkshire Hathaway is buying and selling.

Video Transcript

[MUSIC PLAYING]

- Welcome back to "Yahoo Finance Live." We are seeing all three major indices holding on to their gains, with the Dow now up more than 250 points. Let's bring in Yahoo Finance's Jared Blikre, who's taking a closer look at some of those trending tickers. And, of course, you're breaking down the stocks to watch from Berkshire's latest 13F filing.

JARED BLIKRE: That's right. We got some news last night. And well, Warren Buffett is moving the market. Apple is still the biggest holding. But what he is adding, in a big way, is energy. Bank of America is still number two. But Chevron added $21 billion. Now, he just spent $41 and 1/2 billion, about half of that went into Chevron. And let me show you the year-to-date performance here, up 50%, basically just broke to a record high, barely, only yesterday, but still kind of in this consolidation phase.

Also adding Occidental Petroleum now. OXY is up 135% year-to-date. It has already broken out of its base here, probably on some of this news that we're looking at. Coca-Cola, American Express, Kraft, Heinz, really not seeing changes there. But Paramount, now, this is a new holding for him, and this is a stock that has really done nothing over the last several years-- you could even say a decade here. Definitely in a downtrend.

You can ignore this right here. That was the Archegos blowup that we had last year. I don't think it was ever a meme stock, but a lot of these media stocks got kind of caught up in that frenzy. It is a classic value play by Warren Buffett. Also adding Citigroup. And guess what? Completely out of Wells Fargo. Wells Fargo not performing well this year. Not performing well over the last few years. Now, Citigroup-- this is a [? maxed ?] chart as well. You can see it used to be quite the high-flyer and, really, it hasn't even clawed back most of that.

I do want to add that he is selling a lot of health care-- AbbVie, Bristol-Myers, Merck-- sales there. Wells Fargo out of that completely. And Verizon Communications, well, trimming that as well, guys.

BRIAN CHEUNG: Jared, I know that you're not a huge gamer. I know you like to game around with the [? M2 ?] money supply chart. But I know you're watching Take-Two as well. They reported earnings. What's the update on that?

JARED BLIKRE: Subtle dig there. I love that, Brian. Let's look at the software board here. We're seeing Take-Two having its best day in years. I think you have to go back to 2018. Guidance was a little bit weak, but I think analysts like the pipeline. The Zynga transaction, that's supposed to happen next week, so they're going to look forward to that. And overall, the software space has had a terrible run over the last-- basically since November. A lot of these names have been beaten down.

Take-Two actually faring better than a lot of these. You can see over the last two years, only down 8%. But is it time to start dipping your toes in the software market right now? Well, a lot of people are saying this reminds them of the dot-com bubble, which finally washed out people in 2001, 2002, so we'll have to see if anything comes of that, guys.

AKIKO FUJITA: Yeah, we're hearing a lot of references--

JARED BLIKRE: Lots.

AKIKO FUJITA: --to 2001.

JARED BLIKRE: There was another one.

BRIAN CHEUNG: Not one you want to compare to, but.

AKIKO FUJITA: Yeah, it makes you a little uncomfortable. All right. Thanks for that, Jared.