OMAHA, Neb. (AP) — Investor Warren Buffett’s company sold some of its Goldman Sachs and Wal-Mart shares during the third quarter, and made several smaller changes to its stock portfolio.
Berkshire Hathaway Inc. filed a report on its U.S. stocks Monday with the Securities and Exchange Commission.
Buffett said on CNBC the main reason he reduced Berkshire’s Wal-Mart and Goldman stakes was to generate cash for his $32 billion acquisition of Precision Castparts that’s expected to close next year.
Berkshire sold 13 percent of its 12.6 million Goldman shares and unloaded 7 percent of its 60.4 million Wal-Mart shares.
Many investors like to copy Buffett’s moves because of his remarkably successful record, so these quarterly filings are watched closely.
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