Warren Buffett's Berkshire Hathaway made notable adjustments to its investment portfolio at the end of last year. The company reduced its stake in Bank of America to 680 million shares, causing its ownership percentage to fall below 9%. Along with significant cuts in other banking stocks, Berkshire exited two S&P 500 funds while only adding Constellation Brands to its holdings. Despite these reductions, they increased stakes in Domino's Pizza and Pool Corp., indicating a selective approach amidst challenges in finding bargains in a robust stock market.
Buffett's conglomerate sold a net $127 billion of stocks in the first nine months of last year.
Buffett and his two investment managers cut other banking stocks too, selling 74% of their Citigroup stake.
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