Warren Buffett exits IntelAugust 14, 2012: 4:58 PM ET
Warren Buffett might not like technology that much after all.
The legendary investor exited his entire position in Intel (INTC) during the second quarter. His firm, Berkshire Hathaway (BRKA) (BRKB), bought into the computer chip making firm just three quarters ago. Such a rapid exit is rare for Buffett, who is known for his buy-and-hold value stocks ethos.
Berkshire Hathaway's only addition to his fund's portfolio in the second quarter was the oil production company National Oilwell Varco (NOV), according to documents filed with the Securities and Exchange Commission Tuesday.
While Buffett has largely eschewed technology stocks (and now social media ones ... no Facebook (FB) here!), oil production is a more typical investment for Berkshire Hathaway. Buffett retained his stake in oil firm ConocoPhillips (COP) and received shares of refiner Phillips 66 (PSX) following its spin-off from Conoco.
The fund more than doubled its stake in Bank of New York Mellon (BK), but only slightly increased its position in Wells Fargo (WFC). Buffett also owns regional banks U.S. Bancorp (USB) and M&T Bank (MTB) as well as preferred shares in Bank of America (BAC). The BofA holdings are not included in Berkshire's quarterly filings however.
Berkshire also doubled its stake in Liberty Media (LMCA) again in the second quarter. It first invested in the media firm at the end of 2011 and now holds roughly 6 million shares.
Overall though, Berkshire Hathaway appeared to just tinker with its stock portfolio in the second quarter rather than make sweeping changes.