Berkshire Hathaway may reduce Citigroup's stake in its portfolio

Berkshire Hathaway was a net buyer of about $3.6 billion in shares last quarter, which reflects about $8.9 billion in purchases and $5.3 billion in sales, according to its cash flow statement.

It was outlined in the company's Sept. 30 report that asset values in financial stocks were down $4.7 billion from June 30.

Citigroup and Bank of New York are the only major financial holdings that Berkshire Hathaway did not have significant gains in its portfolio. Berkshire Hathaway owned 55 million shares of Citigroup stock on June 30, which would have been worth $2.5 billion, based on Citigroup's closing price of $45 on Friday. 

Information on Berkshire shares sold for the third quarter will be known next week when the company releases its 13-F quarterly report on its holdings as at Sept. 30.