Berkshire Hathaway Inc reportedly trimmed down its stake significantly in Goldman Sachs Group Inc and Wal-Mart Stores Inc.
Citing the company’s Monday filing, Bloomberg noted a large drop in stake ownership in both the investment firm and the retailer. From 12.6 million shares three months earlier, Warren Buffett’s company now only owns 11 million shares as of September 30, which is a 13 percent drop. As for its shares on Wal-Mart, its 60.4 million shares in the same period had dropped to just 56.2 million shares, which is a 7 percent drop.
Earlier, Buffett had announced on a television interview that he sold his Goldman and Wal-Mart shares in preparation for his largest acquisition ever. Reuters said the investor is poised to take over aerospace parts maker Precision Castparts Corp in a USD31.7 billion takeover deal. He denied allegations that he had sold some of his shares in Goldman and Wal-Mart because he soured on both companies.
