Buffett is bonkers for bank stocks
Warren Buffett, chairman and CEO of Berkshire Hathaway, took a few more bites of Apple (AAPL) stock in the most recent quarter. But the big news is that he’s bonkers for bank stocks.
Berkshire Hathaway added to or bought new stakes in five of the nation’s largest commercial banks in the third quarter ended Sept. 30. The holding company also made bets on investment banking, custodial banking and insurance.
In addition to finding value in select pockets of the financial sector, the Oracle of Omaha also made a surprising new bet on a technology stock.
The world’s greatest value investor made several noteworthy moves in the third quarter, according to a new Berkshire Hathaway 13F regulatory filing. (Large investors such as Berkshire are required to disclose their holdings to the Securities and Exchange Commission every three months.) The biggest changes to Berkshire’s portfolio came in the form of additional stakes new investments as the company seeks to deploy a hoard of cash that stood at more than $100 billion at the end of the September quarter. But Berkshire also did a little trimming.
Since it can be instructive to see what Buffett has been up to, we took a closer look at what Berkshire has been buying and selling. Keep in mind that not all “Warren Buffett stocks” are actually his picks – some smaller positions are believed to be handled by lieutenants Ted Weschler and Todd Combs.
Click ahead to see the most notable recent changes to Berkshire Hathaway’s stock holdings.
(Source: msn.com)
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