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

May 16, 2022 6:31 PM ETCitigroup Inc. (C), WFCBRK.B, BRK.A, OXY, HPQ, ABBV, BMY, CVX, ATVI, VZ, STOR, RPRXBy: Liz Kiesche, SA News Editor179 Comments

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  • 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

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