Buffett Takes Barrick Gold Stake, Dumps Goldman Sachs, Occidental Petroleum

Warren Buffett’s Berkshire Hathaway  (BRK.A) – Get Report  (BRK.B) – Get Report holding company took a stake in Barrick Gold Corp.  (GOLD) – Get Report, while exiting or reducing holdings in shares of financial companies in the quarter ended July 1, according to a filing with the Securities and Exchange Commission Friday.

The filing showed Berkshire had acquired 16,073,701 shares of Barrick during the period. Shares rose $1.94, or 7.2%, to $28.93 in after-hours trading Friday.

Berkshire dumped its holdings in Goldman Sachs  (GS) – Get Report, and reduced its holdings in JPMorgan Chase  (JPM) – Get Report by 60% and in Wells Fargo  (WFC) – Get Report by 26%, according to the filing.

Buffett also exited a position in Restaurant Brands Intl.  (QSR) – Get Report and exited its holdings in Occidental Petroleum  (OXY) – Get Report.

Berkshire added to an earlier stake in Store Capital Corp.  (STOR) – Get Report and to its holdings in Kroger Co.  (KR) – Get Report.

The filing also confirmed Buffett’s exit from all his holdings in airline stocks — United Airlines Holdings  (UAL) – Get Report, Southwest Airlines Co.  (LUV) – Get Report, American Airlines Group, Inc.  (AAL) – Get Report and Delta Air Lines, Inc.  (DAL) – Get Report— a move that the fabled investor announced at the company’s annual meeting earlier this spring.

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