Warren Buffett is betting on Financials. In a third quarter filing, the Berkshire Hathaway founder announced new positions in JPMorgan Chase with a purchase 35.6 million shares, as well as positions in Bank of America, Goldman Sachs and Bank of New York Mellon. He also took a new position in PNC Financial.
One bank he cut somewhat from his portfolio was Wells Fargo, as he sold off about 9.6 million shares. However, Wells still remains a top 3 stock holding for Berkshire with 442.36 million shares.