Longtime Berkshire Hathaway mutual fund investors are starting to leave the Warren Buffet run company, according to Forbes.

Long time devotees who are familiar with the Berkshire Hathaway, and have held its stock for ages are becoming less enthralled. 

The Sequoia Fund, which has had a relationship with Buffet for four decades, is starting to dwindle investments in its portfolio. In 2005 Sequoia has unloaded $650 million of Berkshires shares, shrinking their weight in the portfolio from 35% to 26%.

Sequoia only informed its investors earlier this year that it has been backing out of Berkshire lately. The reasons stated for reducing the Berkshire load were its desire for better diversification and Buffet’s age. Buffet is 77.

Christopher Davis of Davis Financial Fund has exited his Davis Advisors from Berkshire entirely. It recently reported selling $49 million worth of Berkshire A shares for a $20 million profit. Three other Davis-run funds have so far maintained their levels of Berkshire stock.

On Aug. 20 Buffet assure shareholders that a change in management and a possible shift in control to Bill & Melinda Gates Foundation, which he’s donating most of his shares to, will have no impact on Berkshire’s fortunes.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.