According to a
released on Monday,
added Citigroup and Paramount Global to its stock portfolio last quarter. As of March 31, the famous investor's company-owned $2.9 billion in banking giant shares and $2.6 billion in media giant shares.
Last quarter, it also bought shares in Ally Financial, Markel, McKesson, Celanese, Occidental Petroleum, and HP. Only those three positions were worth over a billion dollars.
Berkshire increased its holdings in Chevron and Activision Blizzard by more than quadrupling their worth to about $26 billion and $5 billion, respectively, by the end of March. Buffett's company also upped its Apple stake somewhat.
Berkshire Hathaway, on the other hand, decreased its Verizon stake by more than 99 percent, reducing its worth from $8.3 billion to around $70 million in just three months. It also cut ties with AbbVie, Bristol-Myers Squibb, and Wells Fargo.
Berkshire Hathaway's US stock portfolio increased by 10% in value to $364 billion. Lately, Buffett had been finding it difficult to find bargains as stocks climbed to record highs, along with vicious competition from private equity companies and SPACs increased the cost of acquisitions, and Berkshire's increasing stock price made share repurchases less appealing.