How Warren Buffett’s Top Two Bank Holdings Changed in Q3 2018


Nov. 15 2018, Updated 10:14 a.m. ET

Warren Buffets’ top two bank holdings

In the previous part of this series, we looked at how investment pioneer Warren Buffett’s Berkshire Hathaway (BRK.A)(BRK.B) added about 522,902 more Apple (AAPL) shares in its portfolio in the third quarter. Now let’s see how Buffett’s top two bank holdings (IYF) changed in the last quarter.

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Increasing bets on Bank of America

In the third quarter, Berkshire Hathaway added about 198. 25 million more shares of Bank of America (BAC) to its portfolio. At the end of the last quarter, the company held a total ~877.24 million shares in BAC. This increase resulted in a 35% rise in Berkshire’s third-quarter stake in Bank of America to $25.84 billion.

Bank of America was the second-largest holding for Berkshire Hathaway, after Apple, and its biggest banking-sector holding. As of November 14, BAC has lost 7.8% year-to-date and 7.6% in the fourth quarter so far.

Reduced Wells Fargo position

In the third quarter, Berkshire Hathaway reduced its position in Wells Fargo & Co. (WFC) to ~45.20 million shares by selling about 9.65 million shares. Berkshire’s stake in Well Fargo fell to $23.25 billion from $25.06 million.

WFC stock fell 5.2%, and it has lost about 14.0% year-to-date as of November 14. Goldman Sachs (GS) has lost 20.5%, and JPMorgan Chase (JPM) has gone up slightly, by 0.4% year-to-date.

Read on to the next part of this series to learn about Berkshire Hathaway’s other top holdings in the third quarter.


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