Berkshire Hathaway Inc. has undertaken a massive buying spree, increasing its shares in multiple companies as fears of an economic recession have driven stock prices downward.
In the first quarter of 2022, the company greatly increased its shares of Occidental Petroleum Corp. and Chevron Corp. and continued to add to its position in Apple Inc. Apple stock prices have fallen by almost 10 percent in the past month. Berkshire Hathaway has also taken stakes in HP Inc. and Citigroup Inc., among others.To execute these purchases, the company has drawn from its near-record cash savings. At the end of the fourth quarter of 2021, the company had $146.7 billion saved, which was reduced to $106.3 billion in the first quarter 2022.
