OMAHA (AP) – Warren Buffett’s company slashed its stake in United States (US) Bank’s parent company and also sold shares in Chinese electric car maker BYD in the third quarter, according to regulatory filings on Monday.
The moves were among several others including a more than USD4.1 billion investment in Taiwan Semiconductor that Berkshire Hathaway disclosed in the filings with the SEC and the Hong Kong stock exchange.
The filings detailed all the stock moves made by Buffett’s company in the third quarter.
Many investors follow Berkshire’s moves closely because of Buffett’s remarkably successful track record over the decades.
Berkshire revealed a new 60 million share stake in Taiwan Semiconductor and two smaller new investments in Jefferies Financial Group and Louisiana Pacific Corp in Monday’s filing.
Berkshire also picked up nearly four million more Chevron shares worth more than USD700 million to give it 165.4 million shares and continue betting on oil producers.
One of Buffett’s biggest investments this year has been buying up roughly USD12 billion of Occidental Petroleum shares, including adding nearly 36 million shares in the third quarter.
Buffett’s company trimmed its Activision Blizzard, General Motors and Kroger holdings during the quarter.
It also eliminated an investment in Store Capital Corp.
Berkshire said on Friday that it now owns 3.5 per cent of Minneapolis-based US Bancorp, down from nearly 10 per cent at the start of the year. The 52.5 million shares Berkshire now holds were worth roughly USD2.4 billion on Monday.
It also reduced its investment in the Bank of New York Mellon by 10 million shares during the quarter.
But financial stocks remain a core part of Berkshire’s portfolio. The Omaha, Nebraska-based conglomerate’s stake of more than one billion shares of Bank of America is one of its biggest investments.