Key Facts on Warren Buffett’s Investment Activity
Berkshire Hathaway CEO Warren Buffett is reportedly reducing his holdings in Bank of America (NYSE: BAC), having sold over 401 million shares, equivalent to 39% of his peak stake since July 17, 2024. Additionally, the total cost basis for financial stocks in Berkshire’s portfolio decreased from $14.268 billion on March 31 to $14.08 billion on June 30, indicating a continued pivot away from financial stocks.
Buffett has also cut back on consumer product stocks, with the cost basis in that sector falling from $13.76 billion to $13.418 billion during the same period. Despite these reductions, he has increased investment in the ‘commercial, industrial, and other’ sector, where the cost basis rose from $49.097 billion to $51.9 billion by June 30. This suggests a potential new investment, likely in an industrial company.
Berkshire Hathaway is set to file its latest Form 13F by August 14, 2023, which will provide further insights into Buffett’s recent trading activities and clarify the mysterious stock he has reportedly been accumulating.
