Berkshire Hathaway Portfolio Changes. The firm led by Warren Buffett has divested itself of all the shares of the Wells Fargo bank, in which he had spent 30 years and which at one point was the largest investment in his portfolio. A historic bet that has been gradually undoing and has now closed.
It has also divested 99% of the shares of the telecommunications firm Verizon and has left the biopharmaceutical AbbVie and the pharmaceutical company Bristol-Myers Squibb. It has also cut its stake in Kroger supermarkets, according to securities regulator documents made public on Monday.
The sales have fueled new purchases. He has invested 2,900 million dollars -2,800 million euros- in the Citi bank. An entity that has just modified its dome, something that has not encouraged its listing despite the fact that the CEO, Jane Fraser, intends to promote the most profitable businesses such as the management of large assets or the sale of bonds.
Thus, he does not leave the sector, but changes his bet. He has also added 2,500 million euros in the Paramount media firm and 375 million in the financial Ally Financial.
Berkshire has spent the last few years renewing its banking bets. He has withdrawn from the biggest-name investments, including holdings in JPMorgan and Goldman Sachs, while remaining with Bank of America and US Bancorp.
Throughout the first quarter, Berkshire managers have spent some 51,000 million dollars -49,000 million euros- on purchases, the highest figure since 2008. Among other operations, a greater investment in the Celanese chemical company stands out, where it has shares valued at 1,130 million -1,085 million euros-, 900 million dollars -860 million euros- at McKesson (health, pharmacy), General Motors (automobile) and RH (furniture).
After the close of the first quarter, it has also gained ground in Occidental Petroleum (of which it has more than 15%), in Chevron (energy), in Activision Blizzard (video games) and HP (computer science), as it advanced in its annual meeting with shareholders. He has also bought 4 million shares in Apple, today his star investment.
Berkshire owns stakes in about 90 companies. Among them are Coca Cola, Bank of America, the BNSF railway or the Geico insurer.
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