Warren Buffett's Berkshire Hathaway bets more on banks

By Warren BuffettFOXBusiness

Warren Buffett buys bank, tech stocks

Sevens Report Founder Tom Essay on Berkshire Hathaway CEO Warren Buffett’s stock picks.

Warren Buffett’s Berkshire Hathaway is once again betting on financials, increasing its stake in several of the top U.S. banks.

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TickerSecurityLastChange%Chg
BACBANK OF AMERICA CORP.28.99-0.23-0.79%
USBU.S. BANCORP INC.53.04-0.08-0.15%
JPMJP MORGAN CHASE & CO.115.12+1.22+1.07%
PNCPNC FINL SVC138.76-1.44-1.03%
BKTHE BANK OF NEW YORK MELLON CORP.43.11-0.04-0.09%
TRVTHE TRAVELERS COMPANIES INC.154.59-0.24-0.15%

The conglomerate disclosed in regulatory filings that it purchased more shares of Bank of America, U.S. Bancorp, JPMorgan Chase, PNC Financial, Bank of New York Mellon and Travelers in the fourth quarter. Berkshire also bought shares in General Motors, energy company Suncor and cloud-computing company Red Hat, which was recently acquired by IBM.

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TickerSecurityLastChange%Chg
RHTRED HAT187.710.000.00%
IBMINTERNATIONAL BUSINESS MACHINES CORP.143.53+0.21+0.15%
SUSUNCOR ENERGY31.56-0.62-1.93%
GMGENERAL MOTORS COMPANY39.43+0.07+0.18%

The disclosure came months after Berkshire disclosed that it had purchased more than 35 million shares of JPMorgan in the third quarter. At the time, the stake was worth $4 billion. Berkshire is heavily invested in financials and also owns a stake in Goldman Sachs.

TickerSecurityLastChange%Chg
ORCLORACLE CORPORATION58.61-0.68-1.15%
AAPLAPPLE INC.204.50-0.71-0.35%
WFCWELLS FARGO & COMPANY45.30-1.41-3.02%

Buffett’s firm also disclosed that it had dumped its entire 41 million shares of tech firm Oracle just one month after it purchased them. It also cut its stakes in Apple and Wells Fargo.

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Berkshire Hathaway shares sank slightly in trading Thursday.

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