Did Warren Buffett Sell Ally Financial in the First Quarter?
After the market closes on May 15, Warren Buffett's company, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), will submit its 13F filing, which will reveal what stocks the large conglomerate bought and sold in the first quarter.
However, we already know from Berkshire's quarterly regulatory filing that the company sold more stocks than it bought and that it lowered its cost basis for its banks, insurance, and financial holdings by $1.87 billion.
In 2022, Berkshire made multiple purchases of large digital consumer bank Ally Financial (NYSE: ALLY), which specializes in retail auto lending. But with the stock having taken a hit since the banking crisis began and the U.S. potentially headed into a recession, it's worth considering whether Berkshire sold Ally in Q1. Let's take a look.
Source Fool.com
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