Warren Buffett’s Berkshire Hathaway Inc. unloaded billions of dollars of bank stocks as the U.S. economy reeled during the coronavirus lockdown.
Berkshire’s holdings of Wells Fargo & Co. and JPMorgan Chase & Co. stock dropped by more than $3 billion apiece in the second quarter, according to regulatory filings made public Friday. The company also dissolved its stake in Goldman Sachs Group Inc., which was worth about $300 million at the end of the first quarter.
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