Berkshire Hathaway Just Cut Its Stake in This Longtime Holding by More Than Half

In a filing last week, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), the massive conglomerate run by legendary investor Warren Buffett, reported that it had significantly trimmed its position in large regional lender U.S. Bancorp (NYSE: USB). Berkshire and Buffett first purchased shares of U.S. Bancorp in 2006 and held on to their stake during the brunt of the pandemic as they reduced and/or ended positions in other notable banks like JPMorgan Chase, Goldman Sachs, and M&T Bank. Berkshire had been trimming its position in U.S. Bancorp gradually for several quarters leading up to the big sale, but up until now, no one really knew that it was going to sell off a sizable piece like this.