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The Berkshire of Warren Buffett has reduced its challenges in some of the largest banks in the United States in the last three months of 2024, while the billionaire investor poured billions of dollars in Bank of America and Citigroup.
The sprawling conglomerate has sold almost three -quarters of its position in Citigroup, selling 40.6 million shares worth more than $ 2.4 billion, according to a file with American securities regulators published on Friday.
Berkshire Also continued to sell Bofa shares, an investment that dates back to the financial crisis when Buffett intervened to provide a ballast to one of the largest lenders in the country.
Berkshire, who had a 13% stake in the bank, waited for the BOFA and the wider American financial system to resist the regional banking crisis before starting to reduce its position. But from last July, he began to aggressively reduce his participation, sometimes pouring stocks on the free market during consecutive negotiation sessions.
On Friday, the disclosure showed that Berkshire had reduced his participation to 95 million shares since mid-October, when his position of property fell below 10%.
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