Buffett Further Cuts Stake In National Oilwell Varco, Buys More Wells Fargo Stock

Warren Buffett's Berkshire Hathaway Inc. continued to reduce its stake in oil-and-gas drilling-equipment maker National Oilwell Varco in the first quarter, while picking up additional shares of banking giant Wells Fargo & Co. , the company revealed in a regulatory filing on Friday. The company said it sold nearly 3.3 million shares of National Oilwell Varco, or around 62% of its remaining stake, after shedding a substantial portion of its holdings in the fourth quarter. Berkshire still held around 1.98 million shares as of March 31 with a value of $98.93 million, according to filing-tracking service Whalewisdom.com. Meanwhile, Berkshire added more than 6.8 million shares to its stake in Wells Fargo , the company's top holding. As of the end of the quarter, Berkshire's stake totaled nearly 470.3 million shares worth $25.58 billion. Berkshire also added to holdings of U.S. Bancorp , International Business Machine , Precision Castparts , Phillips 66 , and Deere & Co. .