Warren Buffett doesn't swing at every pitch, but when he does he usually gets a hit.
The billionaire Berkshire Hathaway (BRK.A) (BRK.B) manager has built his fortune by buying when the time is right. And when he is shopping for opportunities, his value investing mantra drives him to seek out what he considers wonderful, quality companies -- hopefully at a bargain.
"Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down," he wrote in his 2008 letter to shareholders.
And when Buffett buys a stock, he is likely to hold onto it for a while. He has said in the past that his favorite holding period is forever and advises others to play a long game as well. "If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes," he wrote in his 1996 investor letter.
Last quarter, Buffett appears to have found several such investments that meet his buy criteria.
Here are six positions added to in the first quarter of 2016, as per his latest 13F corresponding to holdings as of June 30.