after a twoyear hiatus this year’s “woodstock for capitalists” returns to omaha nebraska as an inperson gathering what happened berkshire hathaway incs nyse brka nyse brkb annual shareholder meeting takes place on saturday 91yearold chairman and ceo warren buffett will be addressing investors along with 98yearold charlie munger the longtime secondincommand at the firm as the meeting commenced berkshire released its quarterly results which revealed the company purchased 511 billion of stocks in the first quarter of this year net buys for q1 came in at 414 billion after stock sales berkshire raised its ownership of chevron corp nyse cvx to 259 billion with the purchase of about 21 billion of the companys stock in q1 berkshire also purchased about 7 billion worth of occidental petroleum corp nyse oxy in the first quarter berkshire also bought back 32 billion of its own stock in q1 down from 69 billion in buybacks in q4 2021 the firm reported a net income of 55 billion in the first quarter which included 16 billion of losses on its investment and derivatives portfolio whats next some topics berkshire investors are expected to raise on saturday include how the “oracle of omaha” views the markets in the midst of an ongoing correction how buffet has been investing berkshire’s capital during the market downturn and details on the company’s succession plan if and when buffett decides to retire also read ahead of berkshire hathaways annual meeting key board member says buffetts designated successor has full backing in february buffett indicated that the company was holding a nearrecord 1467 billion in cash and the company now has cash holdings of about 106 billion as of march 31 2022 price action berkshire share were down 307 on friday closing at 48434000 according to data from benzinga pro