Berkshire sold a lot of stocks this last quarter, $5 billion worth

Warren Buffett’s firm Berkshire Hathaway is a big believer in bank stocks but it seems the firm has sold some financial stocks and Barron thinks the firm sold either Citigroup or Bank of NY stocks.

According to reports, Berkshire Hathaway sold about $5 billion worth of financial stocks from its portfolio in Q3 of 2022.  “Berkshire Hathaway (ticker: BRKb ) reported a 20% rise in operating earnings to $7.8 billion in the third quarter on Saturday, and also released its quarterly 10-Q, which has some detail on the company’s equity purchases and sales.” Barrons.