Warren Buffett’s Berkshire Hathaway unveiled a new bet on Aon in an update to his portfolio on Monday and also revealed that he had taken a knife at several positions and eliminated his stake in Wells Fargo in the last quarter.
The investor’s prominent company bought 4. 1 million shares of Aon, a pro-global company, in the 3 months leading up to the March 31 period. In addition, it has increased its commitment to Kroger through more than 50% north of 50 million shares.
In particular, Berkshire has reduced its stake in Wells Fargo from more than 50 million shares to less than 700,000. The bank had been one of Buffett’s most important positions until last year. The Buffett conglomerate also liquidated its positions in Suncor Energy and Synchrony Financial.
The lack of purchases in the last quarter is consistent with Buffett’s comments at berkshire’s recent shareholder meeting, who said he was looking to invest about $80 billion of Berkshire’s roughly $140 billion money reserve in stocks and companies, but admitted he suffered to locate bargains in the current market.
Buffett cited the Federal Reserve’s continued efforts to inject liquidity into markets, which has boosted assets and fueled the takeover festival, as a key factor.