Berkshire HathawayBRK.B–0.19%has been a steady seller of bank stocks in the past few years, eliminating holdings inJPMorgan ChaseJPM–0.62%Wells FargoWFC–0.41%andGoldman Sachs GroupGS–1.26%while sharply reducing stakes in U.S. Bancorp and Bank of New York Mellon in 2022.
The one big holding that Berkshire Hathaway (tickers: BRK. A, BRK. B) CEO Warren Buffett has left alone is $Bank of America(BAC)$ . Berkshire owns just over one billion shares of the bank, which were worth about $28 billion with the stock down 2.7% to $27.98 on Wednesday. Berkshire’s Class A stock was off 2.9% at $448,500.
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