Berkshire Hathaway sold all of its shares in Goldman Sachs. Stakes in banks such as Wells Fargo and JPMorgan have also been significantly reduced, according to the 13F filing on Q2-2020 published on Friday after the market.
This is the second time Warren Buffett shakes up his equity portfolio this year. Earlier this year, Berkshire Hathaway sold all of his shares in four major US airlines. The stake in JPMorgan has now been reduced by 62%. His share in Wells Fargo was reduced by more than 25%.
The sale of the bank shares was offset by the purchase of shares in gold producer Barrick Gold. At the end of the second quarter, Buffett had a $ 564 million stake in the company. The investment in gold is somewhat surprising because Buffett said a few years ago that better investments are available.
Berkshire also sold all of its shares in oil producer Occidental Petroleum and repurchased $5.1 billion worth in Berkshire Hathaway stocks in May and June.
Berkshire Hathaway has only three dividend aristocrats in its portfolio, which are:
Holdings are as of June 30, 2020, as reported in Berkshire Hathaway’s 13F filing on August 14, 2020.
See also our Buffett portfolio tracker for the latest market values.