Berkshire Hathaway Inc. dropped Marsh & McLennan Cos. Inc. from its investment portfolio and increased its stake in Capital One Financial Corp. during the second quarter.

Berkshire sold 404,911 shares of the insurance broker to complete its exit in a position it initially entered in late 2020.

The Warren Buffett-led conglomerate's stake in Marsh & McLennan prior to its exit was not particularly large relative to some of its other investments, especially since Berkshire had drastically slashed its holdings in the insurance broker during the fourth quarter of 2021.

The conglomerate's position in the insurance broker held a value of about $67.4 million prior to the exit.

Portfolio growth

Berkshire Hathaway grew its holdings in Capital One after taking a stake in the company during the first quarter. The conglomerate picked up an additional 2,549,030 shares of the McLean, Va.-headquartered bank during the second quarter, which represents an increase of about 25.7%.

Berkshire's holdings in Capital One were valued at about $1.36 billion in the second quarter.

The conglomerate also picked up initial stakes in D.R. Horton Inc., NVR Inc. and Lennar Corp., all three of which are companies that specialize in homebuilding.

Berkshire's new position in NVR consists of 11,112 shares worth about $70.6 million. The conglomerate's position in Lennar consists of about 152,572 shares and is valued at approximately $17.2 million. Berkshire's new stake in D.R. Horton is much larger at 5,969,714 shares worth about $726.5 million.

Other exits

Buffet also exited McKesson Corp., which provides healthcare services, and Vitesse Energy Inc., an energy company that deals with oil and gas exploration and production.

Prior to its exit, Berkshire held 2,289,864 shares of McKesson worth about $815.3 million. The conglomerate previously held about 51,026 shares of Vitesse, which had been valued at about $971,025.

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