Buffett Rebalances His Portfolio

From Bloomberg:

Berkshire eliminated its stake in health insurers WellPoint Inc. and UnitedHealth Group Inc., lender SunTrust Banks Inc. and property-casualty carrier Travelers Cos., the Omaha, Nebraska- based company said yesterday in a regulatory filing disclosing U.S. equity investments at the end of the first quarter. Buffett’s firm reduced holdings in Kraft Foods Inc., Johnson & Johnson and Procter & Gamble Co.
Buffett, 79, has tapped Berkshire’s U.S. equity portfolio to fund the $27 billion acquisition of railroad Burlington Northern Santa Fe and arrange investments in securities that don’t trade on public exchanges. He invested abroad in the first quarter, making Berkshire the biggest shareholder of German reinsurer Munich Re, and told investors this month to expect “modest” returns from stocks.

Posted by on May 18th, 2010 at 8:58 am


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