Buffett’s firm also shed about $10 billion of its Bank of America holdings in a series of sales starting in mid-July. Bank of America CEO Brian Moynihan said at an event in September that while Buffett has been a “great” investor in the company, Moynihan doesn’t know why Buffett is offloading its holdings in the bank.
Berkshire also offloaded most of its stake in beauty supply retailer Ulta Beauty (ULTA
-0.02%
), which it had just built up in the second quarter of this year.
Meanwhile, Berkshire also added more than 400,000 shares of pool equipment wholesale distributor Pool Corp. (POOL
+1.78%
), valued at about $152 million. Shares of the company rose more than 6% Friday morning before the market opened.