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Berkshire Hathaway Reduces Financial Stocks in 1Q; No Big Purchases amid Weak US Mkt
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Berkshire Hathaway (BRK.A.US), the investment flagship of Warren Buffett, submitted regulatory filings on Thursday indicating that the company did not make large-scale acquisitions during the period of downbeat US stock markets before US President Donald Trump's trade war; instead, it increased cash levels and reduced or sold off financial stock holdings in the first quarter. Last year, Buffett sold all holdings in Citigroup (C.US) and reduced stakes in Capital One Financial (COF.US) and his long-held Bank of America (BAC.US) shares. According to data compiled by Bloomberg, he currently owns 8.3% of Bank of America, no longer being the largest shareholder. Buffett added his stake in alcohol distributor Constellation Brands (STZ.US), now holding 6.6% of the stock, and also added holdings in Sirius XM Holdings (SIRI.US) and Occidental Petroleum (OXY.US) in the first quarter. AASTOCKS Financial News Website: www.aastocks.com |
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