Warren Buffett's Berkshire Hathaway slashed its Goldman Sachs stake by 84% last quarter
The famed investor's conglomerate slashed its Goldman position by 84%, from about 12 million shares at the end of December to fewer than 2 million at the end of March. Combined with a decline in Goldman's share price, that meant the value of Berkshire's position in the investment bank fell from about $2.8 billion to less than $300 million.
Berkshire also exited its positions in Philips 66 and Travelers, which were worth about $25 million and $43 million respectively on December 31.A 20-year hedge fund vet shares the 3-part checklist that guides every investment decision he makes — and breaks down a stock pick he thinks could increase 50 to 100 times in his lifetime
The company left most of its holdings untouched, only trimming a handful such as JPMorgan, Liberty Global, Synchrony Financial, Sirius XM, Teva Pharmaceuticals, and Verisign. However, the coronavirus sell-off meant the total value of its stock portfolio tumbled by 27%, from about $242 billion to $176 billion.
The SEC filing confirms Buffett's comments at Berkshire's annual meeting this month, where he signaled the company was relatively inactive in the first quarter.
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