Warren Buffett/Berkshire Disclose 348.9M OXY Shares; 83.9M Warrants

Rhea-AI Filing Summary

Warren E. Buffett, Berkshire Hathaway and National Indemnity report a 32.7% economic interest in Occidental Petroleum (OXY). The filing shows each Reporting Person beneficially owns 348,853,373.38 shares of Occidental common stock, calculated to include warrants exercisable into an aggregate of 83,911,942.38 shares. The Berkshire warrants were originally issued in 2019 and adjusted multiple times: the exercise price lowered to $59.624 per share in 2020 and further adjusted to $59.586 per share with an increase to 83,911,942.38 underlying shares as of July 17, 2025. The filing reports no sole voting or dispositive power and lists only shared voting and dispositive power for the reported holdings.

Positive

• Significant disclosed stake: Reporting Persons beneficially own 348,853,373.38 shares, representing 32.7% of common stock when warrants are included.
• Detailed warrant disclosure: The filing explains the Berkshire warrants, including anti-dilution adjustments and the increased underlying share count to 83,911,942.38 with an adjusted exercise price of $59.586.

Negative

• Warrants remain unexercised: The Berkshire warrants described in the filing have not been exercised, so the reported ownership includes potential, not currently issued, shares.
• No sole voting or dispositive power: Each Reporting Person reports 0.00 sole voting and dispositive power, indicating control is shared rather than held exclusively.

Insights

Securities Analyst

TL;DR: Berkshire and affiliates report a substantial 32.7% position in OXY, including sizable warrants that materially affect ownership calculations.

The filing documents that Warren E. Buffett, Berkshire Hathaway Inc. and National Indemnity Company collectively report beneficial ownership of 348,853,373.38 shares, representing 32.7% of Occidental's common stock when shares underlying warrants are treated as outstanding. Important factual points include that the reported position is solely shared voting and dispositive power, and that the Berkshire warrants $59.586 per share as of July 17, 2025. This filing is material because it discloses a large, concentrated stake and the presence of exercisable warrants that are included in ownership metrics.

Corporate Governance Expert

TL;DR: Disclosure shows large shared ownership without sole control and documents warrant adjustments and unchanged exercise status.

The Schedule 13G/A confirms that the reported holdings are held in the ordinary course of business and not for the purpose of changing control, per the certification. All three Reporting Persons list 0.00 shares as sole voting or dispositive power and 348,853,373.38 shares as shared voting and dispositive power. The filing explicitly states the Berkshire warrants have not been exercised and provides the history of anti-dilution adjustments and the temporary exercise-price reduction offer communicated on March 3, 2025. For governance, the combination of large shared ownership and unexercised warrants is a key factual detail for assessing future voting outcomes, but this filing does not assert any change-of-control intent.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

OCCIDENTAL PETROLEUM CORPORATION

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

674599105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 674599105

1

Names of Reporting Persons

Warren E. Buffett

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 348,853,373.38
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 348,853,373.38

9

Aggregate Amount Beneficially Owned by Each Reporting Person

348,853,373.38

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

32.7 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: The 348,853,373.38 shares of Common Stock reported in Boxes 6 and 8 includes warrants for an aggregate of 83,911,942.38 shares of Common Stock.

SCHEDULE 13G

CUSIP No. 674599105

1

Names of Reporting Persons

Berkshire Hathaway Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 348,853,373.38
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 348,853,373.38

9

Aggregate Amount Beneficially Owned by Each Reporting Person

348,853,373.38

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

32.7 %

12

Type of Reporting Person (See Instructions)

HC, CO

Comment for Type of Reporting Person: The 348,853,373.38 shares of Common Stock reported in Boxes 6 and 8 includes warrants for an aggregate of 83,911,942.38 shares of Common Stock.

SCHEDULE 13G

CUSIP No. 674599105

1

Names of Reporting Persons

National Indemnity Company

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEBRASKA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 348,853,373.38
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 348,853,373.38

9

Aggregate Amount Beneficially Owned by Each Reporting Person

348,853,373.38

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

32.7 %

12

Type of Reporting Person (See Instructions)

IC, CO

Comment for Type of Reporting Person: The shares of Common Stock of Occidental Petroleum Corporation ("Occidental") reported in this Schedule 13G include warrants for an aggregate of 83,911,942.38 shares of Common Stock exercisable by certain of the Reporting Persons within 60 days (the "Berkshire Warrants"). All shares of Common Stock underlying the Berkshire Warrants are treated as outstanding for purposes of computing the percentage ownership of each of the Reporting Persons reported in this Schedule 13G. The Berkshire Warrants were issued on August 8, 2019 initially for 80,000,000 million shares of Common Stock at an exercise price of $62.50 per share, but on June 26, 2020, Occidental's Board of Directors declared a distribution to its common shareholders of warrants to purchase additional shares of Common Stock, which distribution resulted in an anti-dilution adjustment to the Berkshire Warrants that lowered the exercise price to $59.624 per share and increased the number of shares of Common Stock issuable on exercise of the Berkshire Warrants to 83,858,848.81. The Berkshire Warrants have not been exercised. Additionally, on March 3, 2025, Berkshire was notified that Occidental was offering to holders of the warrants distributed on June 26, 2020 the opportunity to exercise the warrants at a temporarily reduced exercise price. On July 17, 2025, Berkshire was informed that the exercise price of the Berkshire warrants was reduced to $59.586 per share, due to an anti-dilution adjustment, and the number of shares of Common Stock issuable upon the exercise of the Berkshire Warrants was increased to 83,911,942.38.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: OCCIDENTAL PETROLEUM CORPORATION
(b)	Address of issuer's principal executive offices: 5 Greenway Plaza, Houston, TX 77046
Item 2.
(a)	Name of person filing: Warren E. Buffett Berkshire Hathaway Inc. National Indemnity Company
(b)	Address or principal business office or, if none, residence: Warren E. Buffett 3555 Farnam Street Omaha, Nebraska 68131 Berkshire Hathaway Inc. 3555 Farnam Street Omaha, Nebraska 68131 National Indemnity Company 1314 Douglas Street Omaha, Nebraska 68102
(c)	Citizenship: Warren E. Buffett (United States Citizen); Berkshire Hathaway Inc. (Delaware); National Indemnity Company (Nebraska).
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 674599105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the Cover Pages for each of the Reporting Persons.
(b)	Percent of class: See the Cover Pages for each of the Reporting Persons.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the Cover Pages for each of the Reporting Persons.
	(ii) Shared power to vote or to direct the vote: See the Cover Pages for each of the Reporting Persons.
	(iii) Sole power to dispose or to direct the disposition of: See the Cover Pages for each of the Reporting Persons.
	(iv) Shared power to dispose or to direct the disposition of: See the Cover Pages for each of the Reporting Persons.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit A.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Warren E. Buffett

Signature:	/s/ Warren E. Buffett
Name/Title:	To Come
Date:	08/14/2025

Berkshire Hathaway Inc.

Signature:	/s/ Warren E. Buffett
Name/Title:	Chariman of the Board
Date:	08/14/2025

National Indemnity Company

Signature:	/s/ Warren E. Buffett
Name/Title:	Attorney-in-Fact
Date:	08/14/2025

FAQ

How many Occidental (OXY) shares do Warren E. Buffett and Berkshire report owning?

The filing reports beneficial ownership of 348,853,373.38 shares, representing 32.7% of Occidental's common stock when shares underlying warrants are treated as outstanding.

Do the reported holdings include warrants and how many?

Yes. The ownership includes warrants exercisable into an aggregate of 83,911,942.38 shares of common stock (the "Berkshire Warrants").

What is the exercise price of the Berkshire warrants included in the filing?

The Berkshire warrants were adjusted to an exercise price of $59.586 per share as of July 17, 2025.

Have the Berkshire warrants been exercised?

No. The filing states that the Berkshire warrants have not been exercised.

Does any Reporting Person claim sole voting or dispositive power over these shares?

No. Each Reporting Person reports 0.00 sole voting power and 0.00 sole dispositive power; the powers reported are shared.