Warren Buffett slashes JPMorgan and Wells Fargo stakes, bets on Barrick Gold - Business Insider

The famed investor and Berkshire Hathaway CEO slashed his company's JPMorgan stake by more than 60% to about 22 million shares, and its Wells Fargo position by more than 25% to about 238 million shares. Those positions were worth about $2.1 billion and $6 billion respectively as of June 30.

Buffett and his team also bought about 21 million shares of Barrick Gold, a gold-and-copper miner. The position was valued at about $560 million at the end of the second quarter.cut by more than 80% in the first quarter . It also lowered its positions in BNY Mellon, PNC Financial, and SiriusXM. In contrast, it boosted its investments in Kroger, Suncor Energy, and Store Capital.

Overall, Berkshire's stock portfolio grew in value by 15% to about $202 billion, as the value of its Apple stake soared by more than 40% to about $89 billion as of June 30. The filing comes after Berkshire reported almost $13 billion in net stock sales in the second quarter. Its disposal of the "big four" airline stocks in April – which the latest filing confirmed — accounted for almost half of that amount, leaving another $6 billion to $7 billion in proceeds unexplained until now.

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There are two investment managers who work for him that also buy and sell stocks. Its not always 'Warren Buffett'.

With the highest EBITDA/EV in the miner industry of 8.4 and an EPS of 0,20$ (increase of 80%), a ROI of 14.3% it's understandable why Berkshire Hathaway conglomerate and WarrenBuffett took 21 M shares of Barrick Gold. Numbers don't lie!

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