Why Did Warren Buffett Just Sell 1 of His Best Stocks of 2022?

Warren Buffett is buying stocks at a pace not seen in several years. In the first quarter, he added eight new holdings to Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) portfolio. He also increased Berkshire's stake in seven existing positions.

However, the Oracle of Omaha has also sold several stocks. In the first quarter, he completely exited Berkshire's position in Bristol Myers Squibb (NYSE: BMY). But the pharma stock has performed really well in recent months, with shares jumping more than 20% year to date while the overall market has tanked.

Why did Buffett sell one of his best stocks of 2022? He hasn't stated his rationale publicly. However, closing Berkshire's stake in Bristol Myers Squibb is part of a broader pattern.

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Source Fool.com