On the 20th of July, Berkshire Hathaway (NYSE:BRKa) added 34 million Bank of America Corp (NYSE:BAC) shares for $813 million at an average price of $23.99 per share. Shares of Bank of America are up 3.10% since the transaction.
Berkshire Hathaway's holding in Bank of America increased to about 982 million shares with the purchase.
Berkshire Hathaway first bought Bank of America stock in the third quarter of 2017. Berkshire Hathaway also owns Wells Fargo & Co. (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM), U.S. Bancorp (NASDAQ:TBBK) (USB) and Bank Of New York Mellon Corp (BK). Bank of America is its number one position by number of shares and market value among banks stocks.
Other investors who also added to their Bank of America shares include Bahl & Gaynor, Capital International Inc., and DF Dent & CO. Contrary to Berkshire Hathaway, California State Teachers Retirement System, Epoch Investment Partners, and FM Global reduced BAC shares, while Bridgewater Associates, Capital Growth Management, and Old Mutual Asset Managers UK sold all their BAC shares.
Berkshire Hathaway has also recently increased their share in U.S. Bancorp. The total value of the shares bought is estimated at around $740 million.
Berkshire Hathaway also sold all their shares in Southwest Airlines Co. (NYSE:LUV), Delta Air Lines (NYSE:DAL), United Airlines Holdings (NASDAQ:UAL) and American Airlines Group (NASDAQ:AAL). These assets constituted 4.2% of their pre-sale portfolio. The total value of the shares sold is estimated at around $9.4 billion.