Warren Buffett sells Goldman and Walmart, buys GM and Fox

Buffett celebrates 50 years of Berkshire
Buffett celebrates 50 years of Berkshire

In the worst quarter for U.S. stocks since 2011, Warren Buffett's Berkshire Hathaway was a big buyer.

In fact, Berkshire (BRKA) increased the number of shares it held in its portfolio by 25%.

One of the biggest additions to Berkshire's portfolio came without buying additional shares. He ended up with 59 million shares of AT&T (T) that he received in exchange for the 31 million shares of DirecTV he used to own, as AT&T completed its purchase of DirecTV.

The value of Berkshire's holdings increased 19% to $127 billion, as many of those shares declined. Overall the S&P 500 lost about 7% of its value during the quarter.

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Berkshire revealed in a regulatory filing Monday that it had also bought additional stock of several companies it already owns, including General Motors (GM), increasing its stake by 22% to 50 million shares, Twenty-First Century Fox (FOX) by 44% to nearly 9 million shares, and IBM (IBM) by 2%. Berkshire disclosed last month that it lost $2 billion on its IBM investment.

Shares of AT&T, GM, Fox and IBM were all were up more than the broader market in morning trading Monday.

Buffett did sell some stocks, most notably trimming his stake in Goldman Sachs (GS) and Wal-Mart (WMT). Goldman stock was lower Monday, while Wal-Mart shares gained.

Related: Warren Buffett says he's lost $2 billion on IBM

Correction: An earlier version of this story incorrectly stated that Berkshire had purchased shares of AT&T in the quarter. In fact, he received them in exchange for DirecTV shares he already owned.

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