Indeed, Buffett did far more selling than buying between April and June, as Berkshire’s quarterly shareholder filing, released Friday afternoon, made clear. As the coronavirus crisis escalated, the celebrated investor added just a single new stock to his Berkshire Hathaway portfolio: Barrick Gold, a Canada-based mining company whose stock price loosely trades in tandem with the price of gold—which has surged this year (up nearly 30%) as investors have sought safe havens. Barrick itself has outperformed the precious metal, with its shares up 45% so far in 2020. Buffett’s Barrick stock is currently worth about $565 million.
I really like this trade into an actual mining company instead of buying gold outright. I actually only bought commodity index funds (mostly gold and silver) at the start for corona. I was a bit afraid equities would drop across the board. Dumping Airline stocks seemed like a no brainer - I think everyone sold them. But also selling Goldman Sachs stocks seems very conservative to me. Personally I am still holding some smaller European banks and probably won't sell them in the near future.