Buffett's Portfolio Shakeup: Dumps Bank of America, Boosts Sirius XM
Warren Buffett, the renowned investor and CEO of Berkshire Hathaway, has been making significant changes to his portfolio. He has been selling Bank of America stock aggressively over the past year, while simultaneously increasing his stake in Sirius XM Holdings.
Buffett began reducing his Bank of America holdings on July 17, 2024, selling off 427 million shares over the following year. This represents a 41% decrease from his position at that time. Meanwhile, he has been a net seller of stocks for 11 consecutive quarters, with a total of $177.4 billion in sales.
Warren Buffett's recent moves indicate a shift in his investment strategy, with a significant reduction in Bank of America holdings and an increase in Sirius XM Holdings and Mitsubishi. Sirius XM Holdings' cheap valuation and high dividend yield may have attracted Buffett, who continues to deliver impressive returns for Berkshire Hathaway shareholders.
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