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Markets · Investing · Business
Finance
Berkshire Hathaway Just Sold 3 Bank Stocks. Here’s Why Investors Should Take Notice
Berkshire Hathaway’s stock portfolio has been bank-heavy for a while, but that could be changing.
Berkshire Hathaway(NYSE:BRKA)(NYSE:BRKB) has historically been one of the largest shareholders of U.S. banks, and that's still true today. The conglomerate maintains large stakes in Bank of America(NYSE:BAC) and American Express (NYSE:AXP), while also holding several smaller positions in the financial sector.
New CEO Greg Abel and his team might be souring on the banking industry, or at least might see good reasons to reduce exposure to it. In the most recent quarter, Berkshire sold shares of three bank stocks, while simultaneously pouring billions of dollars into the technology sector.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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