Warren Buffett makes more moves in Berkshire portfolio

  • The most striking operation was the total sale of his stake in Wells Fargo, an investment he had more than three decades ago.
  • However, Buffett continues to bet on the banking segment and bought almost 3,000 million dollars in Citigroup shares.
  • In addition, he opened some positions in companies not so well known to many investors such as Paramount, Ally Financial, McKesson, Markel and Celanese.
  • Another movement that surprised his followers was the sale of 99% of his Verizon titles, one of the investor’s strongest bets. He also closed his positions in AbbVie and Bristol-Myers Squibb.

A few weeks ago it became known that Warren Buffett acquired shares for 41,000 million, the highest figure since 2008. At that time he expanded his holdings in AppleChevron and Occidental. Now, new and more deals in the Berkshire portfolio have come to light.

Surely the most striking for his followers was the total sale of his stake in Wells Fargo. Although he had been cutting his holdings for a long time, the investment he had in the bank dated back 30 years. But why did he sell now? The Oracle of Omaha is not happy with the current CEO, an experienced Wall Street man, in addition to the fact that he considered that the company mistreated clients. That was enough for him to get off the ship.

However, the banking segment continues to be one of Buffett’s favorites. One of his biggest holdings is Bank of America, and on Tuesday it was revealed that he purchased nearly $3 billion worth of Citigroup stock.

The conglomerate also opened some positions in companies not so well known to many investors. He added $2.61 billion in Paramount and a nearly $390 million stake in Ally Financial. In addition, he bought securities in the special materials company Celanese, the insurance holding company Markel, and the drug distributor McKesson.

Another movement that surprised his followers is the sale of 8,300 million in Verizon that he had accumulated at the end of 2020, which represents 99% of his participation.

Share sales totaled $9.7 billion and also included drugmakers AbbVie and Bristol-Myers Squibb.

As of March 31, three-quarters of Berkshire’s $390.5 billion stock portfolio was in American ExpressAppleBank of AmericaChevron, Coca-Cola, and Kraft Heinz.