Warren Buffett sells stakes in two banks

Warren Buffett, the renowned investor, decreased his investments in two banks during the last quarter while increasing his stake in Bank of America (BAC) and acquiring new shares in Capital One (COF).

Berkshire Hathaway (BRK-A) (BRK-B), Buffett’s investment conglomerate, sold $1.4 billion of its remaining holdings in custody bank Bank of New York Mellon (BK) and regional lender US Bancorp (USB), according to recent filings, Yahoo News reported.

This move represents a continuation of Buffett’s reduction of long-standing bank investments. Between 2020 and 2022, he sold a significant portion of Berkshire’s holdings in US banks, some just months before the banking system faced turbulence starting in mid-March.

"Warren Buffett sells stakes in two banks, raises Bank of America bet"
READ MORE: https://finance.yahoo.com/news/warren-buffett-sells-stakes-in-two-banks-raises-bank-of-america-bet-220257631.html

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