Berkshire Hathaway has recently divested 30 million Bank of America shares, valued at approximately $1.7 billion.
This development is reflected in Berkshire’s most recent 13F filing for the second quarter, with Greg Abel, Warren Buffett’s successor, continuing the trend of selling BofA shares that has been ongoing for years.
Currently, Berkshire holds 483.4 million Bank of America shares, with a total value of around $27.5 billion, making it one of the conglomerate’s largest investments.
Furthermore, Berkshire has reduced its holdings in Capital One by 58%, to 3 million shares worth about $602 million. It also lowered its stake in Ally by 7% to 27 million shares, valued at approximately $1.24 billion, which represents about 9% of the company.
These divestments coincided with Berkshire’s shift towards being a net buyer of stocks for the first time in several years.
Notably, Berkshire made significant additions to its portfolio, with Alphabet being a key acquisition. The conglomerate purchased more Class A and Class C shares, solidifying Google as one of its top holdings.
In addition to Alphabet, Berkshire also added positions in Delta Air Lines, Lennar, The New York Times, and Macy’s, while initiating a small investment in D.R. Horton.
Berkshire Hathaway, based in Omaha, operates a diverse range of businesses in insurance, railroad, energy, manufacturing, and maintains a substantial public stock portfolio.
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