Berkshire Hathaway has sold another 30 million Bank of America shares, a stake worth about $1.7 billion.
The moves show up in Berkshire’s latest 13F filing covering the second quarter, with Warren Buffett’s successor Greg Abel took continuing a years-long BofA selling spree.
Berkshire now holds 483.4 million shares worth about $27.5 billion, with Bank of America remaining one of its largest holdings.
The firm also cut Capital One by 58%, to 3 million shares worth about $602 million. It trimmed Ally by 7%, to 27 million shares worth about $1.24 billion, or roughly 9% of the company.
The sales came as Berkshire acted as a net buyer of stocks for the first time in several years.
The big add was Alphabet. It bought more Class A and Class C stock and made Google one of its largest holdings.
It also added Delta Air Lines, Lennar, The New York Times and Macy’s, and opened a tiny new stake in D.R. Horton.
Berkshire Hathaway is the Omaha conglomerate that owns insurance, railroad, energy and manufacturing businesses and a large public stock portfolio.
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The post Warren Buffett’s Successor Dumps $1,700,000,000 Stake in Bank of America, Pours Cash Into Six Stocks appeared first on The Daily Hodl.