One of the richest people in the world, Warren Buffett bought gold recently. The owner of the investment company Berkshire Hathaway Inc is eager to pour his investment funds into energy and gold mining companies.
The Motley Fool revealed the news. The Motley Fool quoted him from the disclosure of performance information in the second quarter of 2020 through the 13F document submitted by Berkshire.
Form 13F is a quarterly report that all institutional investment managers with assets under management must file at least US $ 100 million. The rules are in accordance with the rules of the US Securities and Exchange Commission (SEC).
Buffet buys 5 million shares of Suncor Energy
Moreover, Warren Buffett bought an additional five million shares of Suncor Energy. The aim of his move is to increase its position in the Canadian energy sector giant.
Suncor Energy itself is a Canadian company in the energy sector. In fact, the main focus of this company is the oil and gas mining industry.
Warren Buffett Gets Massive Value of Gold
In the same 13F filing, there was a news that Buffett sold all of his shares in Restaurant Brands International, the company that owns the Burger King franchise brand.
Besides, in the report, Buffett have invested heavily in Barrick Gold. The name of Barrick in the stock exchange is ABX and NYSE as GOLD on the Toronto Exchange.
Barrick Gold Corporation is famous to be a mining company that produces gold and copper. The company operates in 16 locations in 13 countries, and is headquartered in Toronto, Ontario, Canada.