Berkshire slashes Goldman stake, exits Travelers
Posted On: May. 15, 2020 4:25 PM CST
(Reuters) — Warren Buffett's Berkshire Hathaway Inc. on Friday reported a significantly reduced stake in Goldman Sachs Group Inc., and that it no longer invests in the insurer Travelers Cos. Inc. and oil refiner Phillips 66 Co.
In a regulatory filing detailing its U.S.-listed investments as of March 31, Berkshire said it reduced its Goldman stake by 84% to about 1.9 million shares from 12 million three months earlier. The market value of its Goldman investment fell to about $297 million from about $2.76 billion.
Investors monitor Berkshire's quarterly filings to see where Mr. Buffett and his portfolio managers Ted Weschler and Todd Combs, who is also chief executive of Berkshire's Geico car insurer, see value.