What’s Buffett Selling?

There were few surprises in wide-moat Berkshire Hathaway's second-quarter 13-F filing

Greggory Warren, CFA 17 August, 2020 | 2:47PM

Warren Buffett
There were few surprises in wide-moat Berkshire Hathaway's (BRK.B) second-quarter 13-F filing. In fact, having known that the insurer eliminated its stakes in the four major airlines--American Airlines, Delta Air Lines, Southwest Airlines, and United Airlines--as well as Goldman Sachs in early April, while picking up an additional 108 million shares of Bank of America since the start of the third quarter, makes the filing feel a bit dated. That said, there was a fair amount of trimming of, as well as additions to, existing share positions during the quarter, as well as a new-money purchase of Barrick Gold to consider.

Much like the first quarter, Berkshire was a net seller of stocks during the June quarter, reporting $10.9 billion in net proceeds from its purchases and sales in its recent 10-Q. Looking first at the purchases, Berkshire picked up 21 million shares of Barrick Gold for an estimated $470 million, and increased its stakes in Liberty Media SiriusXM, Store Capital, Kroger, and Suncor Energy. It should be noted, though, that each of these holdings accounted for less than 1% (if not less than 0.5%) of Berkshire's $202.4 billion portfolio at the end of the second quarter.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Berkshire Hathaway Inc Class A315,375.00 USD0.60
Berkshire Hathaway Inc Class B210.06 USD0.51

About Author

Greggory Warren, CFA

Greggory Warren, CFA  Greggory Warren, CFA, is a financial services sector strategist for Morningstar.

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