Warren Buffett’s Picks: 5 Stocks to Watch

4. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 51

Chevron Corporation (NYSE:CVX) is one of the relatively new holdings of the Buffett-led fund. In the third quarter of 2020, Berkshire purchased a stake worth $3.1 billion in the oil giant. It then sold almost half of that stake in the first quarter of this year before adding slightly to the position in the third quarter. The holding is presently worth $2.9 billion. 

At the end of the third quarter of 2021, 51 hedge funds in the database of Insider Monkey held stakes worth $4.4 billion in Chevron Corporation (NYSE:CVX), up from 50 in the preceding quarter worth $4.2 billion. 

In its Q1 2021 investor letter, ClearBridge Investments highlighted a few stocks and Chevron Corporation (NYSE:CVX) was one of them. Here is what the fund said:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names, (including) Chevron. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”