Why Warren Buffett and David Tepper are loading up on energy stocks

A historic economic comeback is sending some of the world’s biggest investors bargain hunting in the unloved energy sector.

Warren Buffett’s Berkshire Hathaway bought more than 48 million Chevron shares, worth $4.1 billion, last quarter, making the oil name the conglomerate’s 10th biggest equity holding. Meanwhile, three energy companies — Energy Transfer, Occidental Petroleum and PG&E— made it into David Tepper’s top 12 holdings by the end of 2020, worth more than $800 million combined.


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