Buffett’s Berkshire more than triples Ally stake, sheds Verizon
2022.08.16 00:30
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FILE PHOTO: The logo and trading information for Ally Financial Inc appear on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid
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(Reuters) – Warren Buffett’s Berkshire Hathaway (NYSE:BRKa) Inc on Monday said it more than tripled its stake in the online banking company Ally Financial (NYSE:ALLY) Inc, while shedding its stakes in Verizon Communications Inc (NYSE:VZ) and Royalty Pharma Plc, which buys drug royalties.
The changes were described in a regulatory filing describing Berkshire’s U.S.-listed equity investments as of June 30.
Berkshire slowed its trading in the second quarter as U.S. stock markets fell, buying $6.2 billion of stocks and selling $2.3 billion.
It had bought $51.1 billion of stocks and sold $9.7 billion in the first quarter.
