Warren Buffett’s company recommits to Bank of America stock while dumping other banks
Associated Press
23-05-15 22:41
Berkshire Hathaway has sold stakes in US Bancorp and Bank of New York Mellon and increased its stake in Bank of America. It purchased almost 10 million shares of Capital One's stock in Q1 2021, according to an SEC filing. Although the filing didn't specify which investments were made by Warren Buffett and which were made by subordinates Todd Combs and Ted Weschler, Buffett generally only invests in large deals worth more than $1bn. The firm also bought 17.4 million shares of Occidental Petroleum stock during the quarter to bring its stake to almost 24%.