Buffett Lightens Up on Stocks

BERKSHIRE’S MOVES | The latest report shows the Oracle of Omaha was a net seller— but he made some interesting buys, too.

- DAN BURROWS

AS 2021 DREW TO A CLOSE, WARREN Buffett was once again a net seller of stocks, slicing, slashing and completely exiting stakes in a series of sectors that have fallen out of his favor. The chairman and CEO of Berkshire Hathaway continued to pull back on holdings in the financial and health care sectors, with a particular focus on ridding himself of positions in the pharmaceuticals industry. On the other side of the ledger, Buffett seriously increased an already major bet on the energy sector, backed an initial public offering and even got behind an international motorsport circuit.

We like to check in on Buffett’s portfolio around the time Berkshire hosts shareholders for its annual meeting. But those not in attendance at the April 30 presentation in Omaha can see what the greatest long-term investor of all time has been up to because the Securities and Exchange Commission requires investment managers with at least $100 million in assets to file a quarterly report disclosing changes in share ownership. These documents add an important level of transparency and give “Buffettologists” some insight into what the Berkshire chief is thinking.

Here’s the scorecard for Warren Buffett’s additions and subtractions during the fourth quarter of 2021, based on Berkshire’s SEC filing in mid February for the quarter that ended December 31. And remember: The 10 stocks below represent the biggest sales and purchases based on the change in their weighting in Berkshire’s portfolio. Not all “Warren Buffett stocks” are actually his picks. Some of Berkshire Hathaway’s positions are handled by lieutenants Ted Weschler and Todd Combs. Portfolio holdings data are as of year-end.