Warren Buffett Just Increased His Position in This Stock by 234%
Every quarter, investment managers with more than $100 million in assets make moves in their portfolios and report their holdings in a 13F filing after the quarter closes. Fund managers are always making tweaks, adding to and trimming holdings and reallocating capital to new positions. It's fairly run-of-the-mill stuff, but when an investor of Warren Buffett's caliber triples his stake in a company, the rest of the investment community tends to take notice, thanks to his track record as one of the most successful value investors of all time.
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And that's exactly what just happened. According to the just-released 13F filing for the second quarter, Buffett's Berkshire Hathaway has increased its position in Ally Financial (NYSE: ALLY) by 234%. Buffett now owns 30 million shares of one of the nation's leading online banks with a position worth just over $1 billion.
Source Fool.com
