The Clap
Shares of Citigroup (NYSE: C) & Paramount Global (NASDAQ: PARA) soared yesterday after Warren Buffet’s investment conglomerate Berkshire Hathaway (NYSE: BRK) revealed new stakes in the two companies.
The deets
A regulatory filing describing Berkshire’s equity investments as of March 31st, 2022, showed that Buffet invested $2.6 billion in Citigroup, & nearly $2 billion in Paramount.
The filing also showed new positions for Berkshire in Ally Financial (NYSE: ALLY), insurance company Markel (NYSE: MKL), & drug distributor McKesson (NYSE: MCK), all of which saw their shares jump on Tuesday.
He giveth, he taketh
Berkshire also revealed it sold nearly all of its $8.3 billion stake in Verizon (NYSE: VZ), as well as completely exited its Wells Fargo (NYSE: WFC) investment.
Berkshire’s portfolio
The filing showed that over 75% of Berkshire’s $390 billion equity portfolio were in American Express (NYSE: AXP), Apple (NASDAQ: AAPL), Bank of America (NYSE: BAC), Chevron (NYSE: CVX), Coca-Cola (NYSE: KO), & Kraft Heinz (NASDAQ: KHC).
