New York (CNN Business) Warren Buffett's Berkshire Hathaway (BRKA) sold off 84% of its stake in Goldman Sachs (GS) during the first quarter, according to a regulatory filing. The conglomerate slashed its holdings in the investment bank to 1.9 million shares from 12 million shares, according to SEC filings released Friday. Berkshire Hathaway initially invested in $5 billion of preferred stock in the Wall Street firm in 2008, as a vote of confidence in Goldman Sachs at the height of the 2008 financial crisis. A representative of Berkshire Hathaway didn't immediately respond to a request for comment. American Express AXP Bank of America BAC PNC Financial PNC Wells Fargo WFC The company remains a majority shareholder in other financial firms, includingandRead More

Source: CNN May 16, 2020 18:22 UTC