Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK.B) continues to exit its position in HP Inc (NYSE:HPQ), with another $83 million in common stock jettisoned from its portfolio, according to a Thursday regulatory filing with the Securities and Exchange Commission (SEC).
The Oracle of Omaha has now sold nearly $132 million in HP shares since the start of October, bringing his stake in the personal computer developer to less than 10%.
Buffett, who does not typically hold tech stocks (except for Apple), bought into HP in April 2022, bringing his stake in the Palo Alto-based company to around 11.4%.
Following the acquisition, HP became the second-largest holding in Berkshire’s portfolio next to Apple.
But his rare tech gamble failed to take flight, with HP shares falling nearly 30% from April 2022 to today.
Given Berkshire’s wider company portfolio is valued in the hundreds of billions, the HP writedown is unlikely to have any noticeable impact on the group’s bottom line.