Berkshire Hathaway Sells Some US Bancorp Shares

Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) sold nearly half a million shares of U.S. Bancorp (NYSE: USB) this week.

Chairman and CEO Warren Buffett filed papers on Monday and Tuesday to sell 497,786 shares of the Minneapolis-based bank for a combined $16.3 million. Berkshire Hathaway still holds about 150.5 million shares of US Bancorp and remains its largest investor. Buffett himself owns 884,230 shares in the bank.

US Bancorp was one of Berkshire Hathaway's 15 largest holdings as of the end of 2019, when it held about a 9.7% stake in the company. But in April, US Bancorp's share repurchases tipped Berkshire Hathaway's ownership percentage over 10%. Now, Berkshire Hathaway's stake is back under 10%, so it won't have to immediately report individual trades of the stock, just its quarter-end numbers.

Source Fool.com