Warren Buffett bought $12 billion of stock following US election

Warren Buffett added to his stock portfolio at Berkshire Hathaway in a big way after Nov. 8.

“We’ve, net, bought $12 billion of common stocks since the election,” he said in an interview with Charlie Rose. Buffett didn’t identify the securities that he picked.

Purchases of that magnitude represent a major pickup in activity for Omaha, Nebraska-based Berkshire. During the first nine months of last year, the company bought $5.2 billion and sold or redeemed roughly $20 billion worth of stocks, according to a regulatory filing. In 2015, Berkshire bought about $10 billion of equity securities.

Stocks rallied after Donald Trump was elected U.S. president in November, as investors speculated that the Republican’s policies will stimulate the economy. That sentiment cooled some on Monday after the turbulent rollout of an immigration order raised concern that the new administration may follow through with isolationist policies, overshadowing a pro-growth agenda.

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