Warren Buffett’s Berkshire Hathaway has eliminated its holdings in several American blue chips – boosting its money pile to a record $157.2 billion.
The changes to the multinational conglomerate holding company were disclosed in a regulatory filing for the third quarter ending Sept. 30 that was made public Tuesday.
Berkshire Hathaway sold $7 billion of stocks in the third quarter, in large part by ditching its stakes in General Motors, Johnson & Johnson and Procter & Gamble.
The corporate also sold off smaller positions in Mondelez International and United Parcel Service, while slimming its investments in Amazon.com, Chevron and HP, in line with the Wall Street Journal.
Berkshire Hathaway did little to balance the offloading — only buying up $1.7 billion in the third quarter, a down period for its stock holdings led by Apple, whose share price fell 12%.
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One in every of the brand new corporations that Berkshire Hathaway added a small position in is Atlanta Braves Holdings, which not directly controls the MLB team.
The worth of Berkshire Hathaway’s equity portfolio was $313.3 billion as of the tip of the quarter, down from $348.19 billion at the tip of the second quarter, Securities and Exchange Commission data shows.
With Post wires