Warren Buffett Successor Greg Abel Cut Berkshire's Bank of America Stake by $1.7 Billion. He Added $1.6 Billion of Delta Air Lines.
The conglomerate's new CEO spent the second quarter selling the bank Buffett had been selling for two years -- and buying the airline Buffett sold out of in 2020.
The conglomerate's new CEO spent the second quarter selling the bank Buffett had been selling for two years -- and buying the airline Buffett sold out of in 2020.
BELLINGS Intelligence Score: 22
Why it matters
Berkshire Hathaway's portfolio adjustments under new CEO Greg Abel, involving a $1.7 billion Bank of America stake reduction and a $1.6 billion Delta Air Lines addition, represent notable market activity reflecting a shift in investment strategy but do not materially alter credit market conditions or regulatory frameworks.
Sources
The Motley Fool
Warren Buffett Successor Greg Abel Cut Berkshire's Bank of America Stake by $1.7 Billion. He Added $1.6 Billion of Delta Air Lines.
The conglomerate's new CEO spent the second quarter selling the bank Buffett had been selling for two years -- and buying the airline Buffett sold out of in 2020.
Nasdaq
Warren Buffett Successor Greg Abel Cut Berkshire's Bank of America Stake by $1.7 Billion. He Added $1.6 Billion of Delta Air Lines.
Key PointsBerkshire sold about 30.2 million Bank of America shares in the second quarter, cutting the position 5.9%.