Berkshire Hathaway’s equity portfolio totals about $350 billion. Above, CEO Warren Buffett at the 2019 shareholders meeting.
Johannes Eisele/AFP via Getty Images
Berkshire Hathaway eliminated its equity investments in Bank of New York Mellon, U.S. Bancorp, Taiwan Semiconductor, and RH during the first quarter, according to a filing late Monday.
(ticker: BRK.A, BRK.B) also initiated a position in
Capital One Financial
(COF), buying a stake of 9.9 million shares worth about $900 million. Shares of the firm were up nearly 6% in after-hours trading.
Berkshire had held some 25 million shares of
Bank of New York Mellon
(BK) worth more than $1 billion, 8.9 million shares of
(TSM) worth $700 million, nearly 7 million shares of
(USB) worth less than $300 million, and some 2.4 million shares of
(RH), the furniture chain, worth $600 million.
CEO Warren Buffett told shareholders at Berkshire’s annual meeting that he has been a seller of bank stocks because he has become less enamored with the industry.
Berkshire also reduced its stake in
(ATVI) by 3.3 million shares to 49.4 million shares, a stake worth about $3.3 billion.
Berkshire reduced its interest in
(GM) by 10 million shares in the first quarter to 40 million shares,…