Buffett's Berkshire Hathaway Maintains Large OXY Stake

TL;DR

**Buffett's still all-in on OXY, showing strong conviction.**

AI Summary

Warren Buffett, through Berkshire Hathaway Inc., filed an amendment (SC 13G/A) on January 10, 2024, updating his beneficial ownership in Occidental Petroleum Corporation as of December 31, 2023. This filing indicates that Buffett continues to hold a significant stake in Occidental, reinforcing his long-term conviction in the oil and natural gas company. This matters to investors because Buffett's substantial and continued investment often signals confidence in a company's future prospects and can influence market sentiment.

Why It Matters

Warren Buffett's continued significant ownership in Occidental Petroleum signals his ongoing confidence in the company, which can reassure current investors and attract new ones.

Risk Assessment

Risk Level: low — This filing is an update on a known major investor's position, indicating stability rather than a new, volatile event.

Analyst Insight

Investors should view this as a reaffirmation of confidence from a highly respected investor, potentially signaling long-term value in Occidental Petroleum. It might encourage a deeper look into OXY's fundamentals, especially its energy sector positioning.

Key Players & Entities

• Warren E. Buffett (person) — Reporting Person and Chairman/CEO of Berkshire Hathaway Inc.
• Berkshire Hathaway Inc. (company) — Filing entity, holding shares in Occidental Petroleum Corporation
• Occidental Petroleum Corporation (company) — Subject company in which shares are held
• National Indemnity Co (company) — Member of the group associated with the filing

Forward-Looking Statements

• Berkshire Hathaway will likely maintain its significant stake in Occidental Petroleum throughout 2024, barring major market shifts or strategic changes within OXY. (Occidental Petroleum Corporation) — high confidence, target: 2024-12-31

FAQ

Key Financial Figures

• $62.50 — of Common Stock at an exercise price of $62.50 per share, but on June 26, 2020, Occide
• $59.624 — ants that lowered the exercise price to $59.624 per share and increased the number of s

Filing Documents

• d635115dsc13ga.htm (SC 13G/A) — 60KB
• 0001193125-24-005968.txt ( ) — 62KB

(a). Name of

Item 2(a). Name of Person Filing:

(b). Address of Principal Business Office

Item 2(b). Address of Principal Business Office:

(c). Citizenship

Item 2(c). Citizenship: Warren E. Buffett 3555 Farnam Street Omaha, Nebraska 68131 United States citizen Berkshire Hathaway Inc. 3555 Farnam Street Omaha, Nebraska 68131 Delaware National Indemnity Company 1314 Douglas Street Omaha, Nebraska 68102 Nebraska Page 6 of 9 Pages (d) Title of Class of Securities Common Stock (e) CUSIP Number 674599105

If this statement is filed pursuant

Item 3. If this statement is filed pursuant to 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: Warren E. Buffett (an individual who may be deemed to control Berkshire Hathaway Inc.) and Berkshire Hathaway Inc. are each a Parent Holding Company or Control Person, in accordance with 240.13d-1(b)(1)(ii)(G). National Indemnity Company is an Insurance Company as defined in section 3(a)(19) of the Act. The Reporting Persons together are a group in accordance with 240.13d-1(b)(i)(ii)(K).

Ownership

Item 4. Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned See the Cover Pages for each of the Reporting Persons. (b) Percent of class See the Cover Pages for each of the Reporting Persons. (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote (ii) shared power to vote or to direct the vote (iii) sole power to dispose or to direct the disposition of (iv) shared power to dispose or to direct the disposition of See the Cover Pages for each of the Reporting Persons . Page 7 of 9 Pages

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. Not Applicable.

Ownership of More than Five

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. See Exhibit A.

Identification

Item 8. Identification and Classification of Members of the Group. Not Applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not Applicable.

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Page 8 of 9 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated this 10th day of January, 2024 /s/ Warren E. Buffett Warren E. Buffett BERKSHIRE HATHAWAY INC. By: /s/ Warren E. Buffett Warren E. Buffett Chairman of the Board Page 9 of 9 Pages NATIONAL INDEMNITY COMPANY By: /s/ WARREN E. BUFFETT Warren E. Buffett Attorney-in-Fact

View Full Filing

View this SC 13G/A filing on SEC EDGAR