Warren Buffett Successor Greg Abel Cut Berkshire's Bank of America Stake by $1.7 Billion. He Added $1.6 Billion of Delta Air Lines.
Key PointsBerkshire sold about 30.2 million Bank of America shares in the second quarter, cutting the position 5.9%.
Berkshire Hathaway's CEO Greg Abel made significant changes to the conglomerate's U.S. stock portfolio during his second quarter as company leader, according to the second-quarter 13F filing with the SEC. The portfolio, valued at $299 billion, largely remained unchanged, with three of the top four positions, Apple, American Express, and Coca-Cola, not experiencing any share movements.
The largest addition to the portfolio was $17 billion invested in Alphabet, extending its previous purchases disclosed in June. However, the most notable change was a $1.7 billion reduction in Berkshire's stake in Bank of America, cutting it by 5.9% to 30.2 million shares. Meanwhile, the company increased its investment in Delta Air Lines by 44%, purchasing an additional 17.5 million shares, bringing its stake to 57.3 million shares, valued at approximately $5.4 billion.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
