Buffett Takes Barrick Gold Stake, Dumps Goldman Sachs, Occidental Petroleum

Warren Buffett’s latest SEC filing shows Berkshire Hathaway also trimmed stakes in Wells Fargo and JPMorgan as well.
Author:
Updated:
Original:

Warren Buffett’s Berkshire Hathaway  (BRK.A) - Get Report  (BRK.B) - Get Report holding company took a stake in Barrick Gold Corp.  (GOLD) - Get Report, while exiting or reducing holdings in shares of financial companies in the quarter ended July 1, according to a filing with the Securities and Exchange Commission Friday.

The filing showed Berkshire had acquired 16,073,701 shares of Barrick during the period. Shares rose $1.94, or 7.2%, to $28.93 in after-hours trading Friday.

Berkshire dumped its holdings in Goldman Sachs  (GS) - Get Report, and reduced its holdings in JPMorgan Chase  (JPM) - Get Report by 60% and in Wells Fargo  (WFC) - Get Report by 26%, according to the filing.

Buffett also exited a position in Restaurant Brands Intl.  (QSR) - Get Report and exited its holdings in Occidental Petroleum  (OXY) - Get Report.

Berkshire added to an earlier stake in Store Capital Corp.  (STOR) - Get Report and to its holdings in Kroger Co.  (KR) - Get Report.

The filing also confirmed Buffett’s exit from all his holdings in airline stocks -- United Airlines Holdings  (UAL) - Get Report, Southwest Airlines Co.  (LUV) - Get Report, American Airlines Group, Inc.  (AAL) - Get Report and Delta Air Lines, Inc.  (DAL) - Get Report-- a move that the fabled investor announced at the company’s annual meeting earlier this spring.

Stocks in Buffett's Berkshire Hathaway portfolio were mixed Friday.

Kroger shares rose 80 cents, or 2.31%, to $35.39.

M&T MTBK Bank shares rose $1.38, or 1.28%, to $109.21.

Among Buffett stocks underperforming Friday, StoneCo Ltd.  (STNE) - Get Report shares fell 80 cents, or 1.63%, to $48.21.

VeriSign Inc.  (VRSN) - Get Report shares fell $3.01, or 1.43%, to $207.29.

Berkshire Hathaway A shares fell $1863.00, or 0.59%, to $316,251.00.

Berkshire Hathaway B shares fell $1.02, or 0.48%, to $210.96.

Cramer and the AAP team are looking at everything from earnings and tariffs to the Federal Reserve. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.

Don’t miss Cramer’s best, every day, with fast, actionable strategies: StreetLightning. Take a look at what will Cramer be watching when the markets open on Monday morning.

The broader markets ended mixed Friday with the Dow posting a modest gain, while the S&P 500 and Nasdaq slipped on weak economic data and the continued stalemate in Washington over stimulus spending.