U.S. markets close in 2 hours 28 minutes
  • S&P 500

    3,632.06
    +54.47 (+1.52%)
     
  • Dow 30

    30,038.46
    +447.19 (+1.51%)
     
  • Nasdaq

    12,022.04
    +141.40 (+1.19%)
     
  • Russell 2000

    1,861.17
    +42.87 (+2.36%)
     
  • Crude Oil

    44.96
    +1.90 (+4.41%)
     
  • Gold

    1,804.30
    -33.50 (-1.82%)
     
  • Silver

    23.30
    -0.34 (-1.43%)
     
  • EUR/USD

    1.1881
    +0.0035 (+0.30%)
     
  • 10-Yr Bond

    0.8820
    +0.0250 (+2.92%)
     
  • GBP/USD

    1.3355
    +0.0033 (+0.24%)
     
  • USD/JPY

    104.5600
    +0.0720 (+0.07%)
     
  • BTC-USD

    19,104.08
    +652.12 (+3.53%)
     
  • CMC Crypto 200

    378.95
    +9.20 (+2.49%)
     
  • FTSE 100

    6,432.17
    +98.33 (+1.55%)
     
  • Nikkei 225

    26,165.59
    +638.22 (+2.50%)
     

Berkshire Hathaway Sells Another Piece of Its Wells Fargo Stake

Katherine Chiglinsky
·1 min read

(Bloomberg) -- Warren Buffett took another step toward the exit on his long-running investment in Wells Fargo & Co.

Buffett’s Berkshire Hathaway Inc. pared its stake in the lender to about 127 million shares at the end of September, according to a regulatory filing Monday. That’s roughly 10 million fewer than in mid-August.

Buffett has repeatedly trimmed the decades-old investment in Wells Fargo this year, reducing what was once Berkshire’s top common stock holding to a stake valued at $3 billion at the end of the third quarter.

He’s been pulling back from the scandal-ridden bank as it prepares to unveil strategic changes. The move is part of a broader retooling of Berkshire’s bets on bank stocks.

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2020 Bloomberg L.P.