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8/14, 10:34 PM (Source: TeleTrader)
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Berkshire divests from large US banks

Warren Buffett's Berkshire Hathaway revealed in a filing with the United States Securities and Exchange Commission (SEC) that it reduced its stakes in several lenders in the second quarter of 2020.

Berkshire said it dissolved its stake in Goldman Sachs, reduced its stake in JPMorgan by 61.5% to 22.2 million shares and cut its stake in Wells Fargo by 26.5% to 237.6 million shares.

The company also stressed it dissolved its stake in Occidental Petroleum.

Breaking the News / NP