Warren Buffett is Selling These 10 Stocks

Published November 25, 2021 at 12:34 pm EST Updated September 7, 2026 at 11:25 am EDT

In this article, we discuss the 10 stocks that Warren Buffett is selling.

Warren Buffett, also known as the Oracle of Omaha, is one of the most well-known and successful investors of all time. Buffett began building his empire at the age of 11 when he purchased his first stock. As of November 24, the legendary investor has a net worth of $104.5 billion, according to Forbes. At 91, the value investor is the genius behind Berkshire Hathaway, which had a portfolio value of $293 billion at the end of the third quarter.

Berkshire Hathaway’s concentrated portfolio of 43 companies includes Apple Inc. (NASDAQ:AAPL), Bank of America Corporation (NYSE:BAC), The Kraft Heinz Company (NASDAQ:KHC), The Coca-Cola Company (NYSE:KO), and American Express Company (NYSE:AXP).

In this article, we will take a look at some of the stocks in which the fund sold its stake in the third quarter.

Overall, Berkshire Hathaway reduced stakes in seven stocks and sold all of its positions in three stocks at the end of the September quarter. At the same time, the fund initiated positions in two stocks and bought additional shares of Chevron Corporation (NYSE:CVX), based on its Q3 13F filings.

Our Methodology

The stocks were picked from the third-quarter regulatory filings of Berkshire Hathaway. We selected the stocks that the fund sold entirely in Q3, and also those in which it reduced its hold in the period. Percentage decline of the fund’s stake in each company is mentioned.

Warren Buffett is Selling These 10 Stocks

10. Liberty Global plc (NASDAQ:LBTYK)

Number of Hedge Fund Holders: 41

Percentage Decline in Stake: 100%

Warren Buffett completely sold his stakes in Liberty Global plc (NASDAQ:LBTYK). The value investor sold off the remaining 1.9 million shares of the international broadband company.

The London-based broadband company runs international brands including VodafoneZiggo, Telenet, Virgin Media, and Sunrise UPC. During the third quarter, the company added 266,000 broadband and postpaid mobile subscribers. Shares of Liberty Global plc (NASDAQ:LBTYK) rose 30% in the past twelve months.

Jeffrey Wlodarczak of Pivotal Research kept a Buy rating on Liberty Global plc (NASDAQ:LBTYK) in October. The analyst increased his price target for the insurance stock to $43 from $40.

Of the 867 elite funds tracked by Insider Monkey, 41 were long Liberty Global plc (NASDAQ:LBTYK) at the end of September, compared to 42 in the second quarter of 2021.

9. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 77

Percentage Decline in Stake: 100%

Merck & Co., Inc. gained 9.2% in the past six months. The New Jersey-based pharmaceutical company has outperformed in recent months, due to its top-selling cancer drug Keytruda and its COVID-19 pill. Despite this, the Oracle of Omaha completely sold off all the remaining shares of the pharmaceutical stock.

Berkshire Hathaway exited its position in Merck & Co., Inc. in the third quarter, selling over 9 million shares worth $712 million. The drugmaker comprised 0.24% of Berkshire’s portfolio. Overall, 77 funds were bullish on Merck & Co., Inc. by the end of the September quarter, compared to 79 in the second quarter.

Following the acquisition of Major Pharma, Truist analyst Robyn Karnauskas raised his price target for Merck & Co., Inc. to $95 from $92 while maintaining a Buy rating on November 24.

Artisan Partners, in its Q1 2021 investor letter, mentioned Merck & Co., Inc., and shared their insights on the company. Here is what the fund said:

“In Q1, we initiated a position in Merck, a provider of health care solutions including prescription medicines, vaccines, biologic therapies, animal health and consumer care products. We purchased Merck when the stock came under pressure in part on concerns that the newly minted Biden administration could implement regulatory changes and lower drug costs in the pharmaceutical industry. Recent, but anticipated changes to Merck’s management team have also weighed on shares, as have concerns over the company’s heavy reliance on immunotherapy treatment Keytruda. Notably, Merck is not getting much credit from investors for the 60+ programs it has in clinical development, despite having several solid and large new product opportunities. Additionally, the company’s strong balance sheet and robust free cash flow provide it multiple options for future partnerships and acquisitions. While Merck is undergoing a period of transition, we think the company’s fundamentals are strong and believe changes to management should be a catalyst for improvement.”

8. Organon & Co. (NYSE:OGN)

Number of Hedge Fund Holders: 35

Percentage Decline in Stake: 100%

Another stock that exited Berkshire Hathaway’s portfolio in the third quarter is Organon & Co., a pharmaceutical company that focuses on women’s health. The company sells over 60 products in 140 markets globally.

Organon & Co. completed its spin-off from Merck & Co., Inc. in June 2021. The fund sold off shares of the pharmaceutical company in Q3, which accounted for not more than 0.02% of Berkshire Hathaway’s portfolio.

At the end of the third quarter of 2021, 35 hedge funds in the database of Insider Monkey held stakes worth $332 million in Organon & Co., compared to 44 in the previous quarter worth $428 million.

7. Marsh & McLennan Companies, Inc. (NYSE:MMC)

Number of Hedge Fund Holders: 42

Percentage Decline in Stake: 35%

Marsh & McLennan Companies, Inc. is a professional services firm based in New York. The company provides insurance and consulting services to clients globally. The insurance company saw a year-over-year sales growth of 16% to $4.6 billion in the third quarter of 2021. The company also reported an EPS of $1.08, beating estimates by $0.08 in the same period.

With plenty of insurance companies on its plate, Berkshire Hathaway decreased its stake in Marsh & McLennan Companies, Inc. by 35% between the periods of June to September. Even so, Warren Buffett’s hedge fund firm remains the biggest stakeholder in the company. At the end of Q3, the fund held 2.7 million shares of the insurance company worth over $415 million.

Meanwhile, Jefferies analyst Yaron Kinar initiated a Buy rating on Marsh & McLennan Companies, Inc. in November with a price target of $149. Additionally, 42 hedge funds tracked by Insider Monkey were bullish on Marsh & McLennan Companies, Inc. with stakes worth $1.98 billion at the end of the third quarter, up from 41 in the preceding quarter valued at $2.53 billion.

Marsh & McLennan Companies, Inc. is one of the stocks that remain in the portfolio of Berkshire Hathaway along with Apple Inc., Bank of America Corporation, The Kraft Heinz Company, The Coca-Cola Company, and American Express Company.

6. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 81

Percentage Decline in Stake: 30%

As of the end of Q3, Warren Buffett owned 14 million shares of AbbVie Inc. (NYSE:ABBV) after the hedge fund manager unloaded 30% of his stake in the Illinois-based drug company. At the end of the September quarter, Berkshire Hathaway had a $1.5 billion stake in the pharmaceutical company.

Berkshire Hathaway is still the biggest shareholder of AbbVie Inc. as of the end of Q3. The pharmaceutical behemoth is one of Buffett’s classic dividend aristocrat picks. The company offers a dividend yield of 4.74%.

Recently, AbbVie Inc.’s (NYSE:ABBV) price target was raised to $135 from $118 by Truist analyst Robyn Karnauskas. The analyst kept a Buy rating on the drug manufacturing company.

With a total stake of $4.14 billion, 81 elite funds tracked by Insider Monkey held a position in AbbVie Inc. at the end of the September quarter, compared to 82 in the second quarter.

Just like Apple Inc., Bank of America Corporation, The Kraft Heinz Company, The Coca-Cola Company, and American Express Company, AbbVie Inc. is a good investment option for value investors, according to market analysts.

5. Charter Communications, Inc. (NASDAQ:CHTR)

Number of Hedge Fund Holders: 74

Percentage Decline in Stake: 20%

Charter Communications, Inc. (NASDAQ:CHTR) is one of the biggest broadband and cable providers in the US, with 32 million customers. Charter’s total revenue increased by 9.2% year over year to $13.1 billion in the third quarter of 2021, topping analyst consensus by nearly $200 million.

Kannan Venkateshwar of Barclays kept an Equal Weight rating on Charter Communications, Inc. with a price target of $700 in November. The stock gained 4.6% in the previous year.

Between the periods of June and September, Berkshire Hathaway reduced its holdings in Charter Communications, Inc. by 20%. The fund owned 4.2 million shares in the cable company worth $3.05 billion at the end of the third quarter. The cable company accounted for 1.04% of Berkshire Hathaway’s portfolio. Moreover, during the third quarter, 74 of the 867 hedge funds polled by Insider Monkey owned a stake in Charter Communications, Inc..

4. Bristol-Myers Squibb Company (NYSE:BMY)

Number of Hedge Fund Holders: 74

Percentage Decline in Stake: 17%

Bristol-Myers Squibb Company (NYSE:BMY) is a globally-known drug manufacturer. The company grew its third-quarter revenue by 10% year on year to $11.6 billion, exceeding revenue estimates by $100 million. The increased demand for BMY’s cancer drugs, Revlimid and Opdivo, bolstered the company’s sales in Q3.

BMO Capital analyst Evan Seigerman highlighted Bristol-Myers Squibb Company’s (NYSE:BMY) immuno-oncology and hematology segments and initiated an Outperform rating on the stock. The analyst set a price target of $72 for the stock on November 18.

Warren Buffett sold 17% of Berkshire’s stake in Bristol-Myers Squibb Company. As of the end of Q3, Berkshire Hathaway held 22 million shares of the pharmaceutical stock valued at $1.3 billion. Still, Berkshire Hathaway is the biggest shareholder of the drug company.

Of the 867 elite funds tracked by Insider Monkey, 74 were long Bristol-Myers Squibb Company at the end of September, up from 73 in the second quarter of 2021.

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 146

Percentage Decline in Stake: 7%

Even though Mastercard Incorporated (NYSE:MA) has underperformed in the past year, the payment processing network company is still one of the most popular card companies globally. The New York-based card company has been aggressively expanding into the cryptocurrency market. In October, Mastercard Incorporated closed its acquisition of blockchain analytics firm CipherTrace.

Between the periods of June and September, Warren Buffett’s fund reduced its exposure to Mastercard Incorporated by 7%, bringing its total holdings down to 4.28 million. This is a mere adjustment to the stake and does not represent a major sell-off.

With a total stake of $17.6 billion, 146 hedge funds owned shares of Mastercard Incorporated at the end of the third quarter of 2021. Virginia-based asset management firm Akre Capital Management is the largest shareholder of the company holding 5.8 million shares worth $2 billion.

In its Q3 2021 investor letter, L1 Capital mentioned Mastercard Incorporated and discussed its stance on the firm. Here is what the fund said:

“Mastercard returned to top 10. We have held Mastercard since the inception of the Fund. Over the 6 weeks to 30 September 2021, Mastercard’s share price retreated 10% and we took advantage of what we believe will be a short-term pullback in the share price to add to our investment. Recent weakness in Mastercard’s share price is most likely due to concerns about disintermediation and other pressures caused by growth in ‘Buy now, Pay later’ and other new payment offerings, as well a general market rotation away from higher growth companies in favor of more cyclical businesses.”

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 143

Percentage Decline in Stake: 5%

Berkshire Hathaway reduced its stake in the world’s largest payment network company Visa Inc. (NYSE:V) by just 5% in Q3. This is a mere adjustment to the stake and does not represent a major sell-off. The fund first added the credit card stock in its holdings in 2011 and now has a remaining stake of 9.56 million shares worth $2.1 billion at the end of the September quarter. Visa Inc. represents 0.72% of Berkshire Hathaway’s portfolio.

Despite negative headlines about Amazon.com, Inc. blocking UK-issued Visa Inc. credit cards, market analysts see a buying opportunity for the credit card stock. Morgan Stanley analyst James Faucette kept an Overweight rating on Visa Inc. with a $280 price target, noting that the business risk with Amazon.com, Inc. “should pass with time.”

Overall, 143 of the 867 elite funds tracked by Insider Monkey reported owning stakes in the California-based company at the end of September 2021. The total value of these stakes is $26 billion.

In its Q3 2021 investor letter, L1 Capital mentioned Visa Inc. and discussed its stance on the firm. Here is what the fund said:

“In our view, the payment network company, Visa, remains very well positioned to participate in an ever-expanding market for electronic payments. In time, ‘Buy now, Pay Later’ may have a modest impact on Visa’s transaction volumes, however, in aggregate, we believe it will have the greater effect of supporting growth in electronic payments more broadly. In the nearer term, we believe the recovery in international travel as the world gradually normalizes and learns to live with COVID-19 will be materially positive for Visa’s financial performance. eCommerce will also remain a positive key driver for Visa growth.”

1. U.S. Bancorp (NYSE:USB)

Number of Hedge Fund Holders: 42

Percentage Decline in Stake: 2%

U.S. Bancorp (NYSE:USB) is one of the biggest banks in the US, holding $567 billion in assets as of the third quarter of 2021. The bank stock is also one of Berkshire Hathaway’s oldest holdings, having been in the company’s portfolio since 2006. In Q3, the hedge fund slashed just 2% of its stake in the company, a small adjustment.

The company posted earnings in the third quarter, reporting a revenue of $5.89 billion, up nearly 2% from $5.78 billion in Q2 2021, and beating analyst consensus by $105 million. On October 15, RBC Capital analyst Gerard Cassidy maintained an Outperform rating on U.S. Bancorp following strong Q3 results. Cassidy raised his price target for the bank stock to $66 from $62, citing the company’s well-balanced business risk and growth outlook.

U.S. Bancorp has been on a buying spree this year. The company’s recently acquired TravelBank, a California-based fintech firm, in November. The transaction, which is estimated to be worth $8 billion, is expected to close in the fourth quarter of 2021.

The bank stock is also a good investment option for income investors as U.S. Bancorp offers a dividend yield of 3.06%.

At the end of the third quarter of 2021, 42 hedge funds in the database of Insider Monkey held stakes worth $8.39 billion in U.S. Bancorp, up from 41 in the previous quarter worth $8.3 million.

You can also take a peek at the 10 Blue Chip Dividend Stocks with Over 8% Yield and 10 Latest Stock Picks of Billionaire Ray Dalio.

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