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Buffett's Berkshire Hathaway Cuts Stake In Wells Fargo By 43%

Video Credit: Wochit News
Published on September 5, 2020 - Duration: 00:28s

Buffett's Berkshire Hathaway Cuts Stake In Wells Fargo By 43%

Regulatory filings show Warren Buffett's Berkshire Hathaway has sold about 101 million Wells Fargo shares in recent weeks.

The billionaire investor's company cut its holdings by about 43% to 136 million shares, slashing its stake to 3.3%.

The sales come after Berkshire sold 25% of its Wells Fargo position in the second quarter.

Berkshire was previously Wells Fargo's largest shareholder.

Business Insider reports that Wells Fargo was one of its five most valuable positions earlier this year.

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