Warren Buffett Loaded Up On Over $1.7 Billion Of Bank Of America Stock In July (BAC, BRK.A, BRK.B)

By Amit Chowdhry ● August 2, 2020
  • Billionaire investor and Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) head Warren Buffett has loaded up on at least $1.7 billion worth of Bank of America Corp (NYSE: BAC) stock in the last two weeks of July

Billionaire investor and Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) head Warren Buffett has loaded up on at least $1.7 billion worth of Bank of America Corp (NYSE: BAC) stock in the last two weeks of July, according to a Bloomberg report.

Now Buffett has a stake worth about $25 billion according to the minimum purchase prices revealed in regulatory filings. These holdings are now Berkshire’s second-largest common stock investment after Apple.

Berkshire Hathaway had invested more in Bank of America’s stock after receiving approval earlier this year from the Federal Reserve. Bank of America’s stock is down about 30% this year.

Bank of America said it is “very pleased” with the long-term support from Buffett and Berkshire in a statement sent to Bloomberg. The $1.7 billion investment is about 1.2% of the $137 billion cash pile that Berkshire reported it had as of the end of the first quarter.