Berkshire Hathaway takes 2.5% stake in Citi in Q1, exits Wells Fargo

Berkshire Hathaway (BRK.B) (BRK.A), the investment giant built by Warren Buffett, disclosed a new stake in Citigroup (NYSE:C) with ~55.2M shares, amounting to ~2.5% of Citi's outstanding shares, it acquired in the first quarter of 2022, according to Berkshire's 13F filing.
The company had already disclosed large stakes in Occidental (OXY), now amounting to 136.4M shares or ~15% of the petroleum company's stock, and HP Inc. (HPQ) at 104.5M shares, or 9.9% of the company.
Berkshire (BRK.B) exited AbbVie (ABBV), Bristol-Myers Squibb (BMY) and Wells Fargo (NYSE:WFC).
Increased holdings: Chevron (CVX) to 159M shares from 38.2M; Activision Blizzard (ATVI) to 64.3M shares from 14.7M shares; and Floor & Decor to 4.78M shares from ~844K.
Reduced holdings: Verizon Communications (VZ) to 1.38M shares from ~159M; Store Capital (STOR) to ~14.8M shares from 24.4M; and Royalty Pharma (RPRX) to ~1.50M shares from ~8.65M shares.
Previously (May 4), Buffett's Berkshire Hathaway (BRK.B) bought another 5.9M Occidental shares