Warren Buffett’s Berkshire Hathaway boosts Ally Financial investment

A regulatory filing from earlier this week shows that Buffett’s Berkshire Hathaway Inc. has more than tripled its stake in Ally (NYSE:ALLY) in the last quarter, racking up more than $1 billion in interest based on the price. of the company’s action on Friday. Morning.

In the second quarter of this year, Omaha-based Berkshire’s stake in Ally grew from about 9 million shares to 30 million shares, according to the filing. Buffett’s conglomerate now owns nearly 10% of Ally.

A Reuters report of the beginning of this week underlines that the deposit does not specify whether it was Buffett or his portfolio managers, Todd Combs and Ted Weschler, who made the Ally stock purchases and sales. Larger investments are normally those of Buffett, according to Reuters.

Buffett’s portfolio also includes significant holdings in Apple, Chevron, Coca-Cola and Kroger. Berkshire also has a roughly $2 billion stake in Detroit-based General Motors Co., or about 3.6% of the company at the end of 2021, according to an annual letter from Buffett to Berkshire Hathaway shareholders.

A spokesperson for Ally Financial declined to comment on the investment, and a message left with Berkshire Hathaway was not returned Friday morning.

While Ally shares jumped earlier this week on news that Berkshire had increased its stake in the company, the lender’s year-to-date shares have fallen more than 25%.

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