During the third quarter, Berkshire Hathaway snapped up a new position in JPMorgan Chase (JPM) of 35.6 million shares, making it the 10th largest stock holding.
It’s notable because the 88-year-old investor has publicly praised JPMorgan’s CEO Jamie Dimon for years, but had not owned the stock. A huge fan of Dimon’s annual letter, Buffett told Yahoo Finance’s editor-in-chief earlier this year that he made a “mistake” not investing in the bank’s stock.
“I should’ve [invested],” Buffett said at the time. “Very obviously. I mean, it’s been a terrifically run operation. And it was very cheap, just like a number of others were.”
Elsewhere, Berkshire added to its positions in Bank of America (BAC) and Goldman Sachs (GS) by 29% and 38%, respectively. Berkshire added 198.24 million shares to Bank of America, bringing its stake to 877.24 million, making it the No. 2 largest equity holding.
Buffett trimmed Wells Fargo (WFC) by about 2% selling just over 9.6 million shares. Wells Fargo remained a top 3 stock holding with a stake of 442.36 million shares.
Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter.