Warren Buffett’s Berkshire Hathaway Unloads Bank Stocks

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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