Warren Buffett Just Ditched This Stock After 13 Years
Warren Buffett's company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) recently filed its 13F form with the Securities and Exchange Commission (SEC), detailing which stocks the large conglomerate bought and sold in the first quarter of 2023.
Notably, Berkshire eliminated its stake in Bank of New York Mellon (NYSE: BK), one of the largest custodian banks in the world. Berkshire first bought a stake in Bank of New York Mellon in 2010 and did a bunch of buying and selling while it owned the stock.
Berkshire trimmed its position by about 18% at the very beginning of the pandemic but then kept it steady until the third quarter of 2022, when Berkshire began the selling that would eventually eliminate the longtime holding. Let's take a look at why Buffett and Berkshire may have soured on the stock.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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