Warren Buffett’s Berkshire Hathaway Inc. loaded up on shares of Sirius XM Holding Inc. and Chevron Corp. in the fourth quarter, while selling out of a previous stake in home builder D.R. Horton Inc., according to regulatory filings.
Omaha-based Berkshire
BRK.A,
BRK.B,
increased its stake in satellite-radio company Sirius XM
SIRI,
to about $220 million in the fourth quarter, from roughly $43.8 in the third quarter, according to a 13-F quarterly filing with the U.S. Securities and Exchange Commission.
Berkshire also increased its multibillion-dollar stake in oil giant Chevron
CVX,
to more than $18 billion, while selling off its roughly $640 million equity holdings in U.S. home builder D.R. Horton Inc.
DHI,
among other moves detailed in the filing.
Despite crude-oil prices that have been in a slump for months, Chevron said it returned a record $36.3 billion in cash to its shareholders in 2023, split between dividends and share buybacks. U.S. benchmark West Texas Intermediate crude
CL00,
settled Wednesday at $76.64 a barrel, down from roughly $95 a barrel in September, according to FactSet data.
See: Chevron’s stock rises as it returns record sum to shareholders, offsetting a big revenue miss
Home builders have been a bright spot in U.S. home-sales market that has been largely frozen since the Federal Reserve began raising interest rates in 2022, resulting in many homeowners being locked in place after having bought or refinanced at low 30-year mortgage rates during the pandemic.
Shares of the iShares U.S. Home Construction ETF
ITB
 are up 1.9% in the year so far, according to FactSet. Home builders often have financing arms that offer buyers lower introductory mortgage rates, which later reset higher, in a bid to sell more newly constructed homes.
This story originally appeared on Marketwatch
