Monday, July 28, 2014

Will Warren Buffett change his stake in Wells Fargo?

Warren Buffett’s Berkshire Hathaway will soon report whether it has changed its stake in Wells Fargo, one of the investment company's "Big Four" investments.

On Friday, Omaha, Neb.-based Berkshire Hathaway is expected to release its results for the second quarter, followed by a securities filing reporting on its stock investments.

Last year, Berkshire Hathaway increased its investment in San Francisco-based Wells Fargo to 9.2 percent, up from 8.7 percent in 2012, according to Berkshire Hathaway's annual letter to shareholders. The letter said the company owned 483.5 million shares of Wells Fargo that were worth almost $22 billion.

Berkshire Hathaway is Wells Fargo's largest institutional shareholder, followed by Vanguard Group. As of the end of the first quarter, Berkshire Hathaway owned 463.5 million shares of Wells Fargo.