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Buffett's Second-Favorite Bank May Surprise You

Every quarter, large money-managers have to disclose what they've bought and sold via 13F filings. While Fools don't always (or even usually) follow what the big money does, we can often glean an idea or two by tracing their footsteps.

A look at Berkshire Hathaway's (NYSE: BRK-A  ) (NYSE: BRK-B  ) most recent 13F, or Warren Buffett's annual shareholder letter, could easily make it seem like U.S. Bancorp  (NYSE: USB  ) -- in which Berkshire bought another 705,000 shares in the first quarter -- is Buffett's second-most favorite bank behind Wells Fargo, Berkshire's largest stock holding. However, this overlooks one major detail about another huge bank investment that doesn't show up on the 13F: Berkshire's $5 billion warrants in Bank of America  (NYSE: BAC  ) . 

In the video below, Foolish contributor Jason Hall gives some insight into why these huge banks are such a big part of the Berkshire Portfolio. Do they belong in yours? That depends. Check out the video for more insight. 

Warren Buffett bought nearly 9 million shares of this company
This company is tied to one of the biggest game-changing developments in the U.S. in decades, its customers love it, and almost can't do business without it. An exclusive Motley Fool report details why it already has over 50% market share. Just click here to discover more about this industry-leading stock and join Buffett in his quest for a veritable landslide of profits!


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Jason Hall

Born and raised in the Deep South of Georgia, Jason now calls Southern California home. A Fool since 2006, he began contributing to in 2012. Trying to invest better? Like learning about companies with great (or really bad) stories? Jason can usually be found there, cutting through the noise and trying to get to the heart of the story.

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Related Tickers

9/1/2015 10:09 AM
BAC $15.87 Down -0.47 -2.88%
Bank of America CAPS Rating: ****
BRK-A $198240.25 Down -4290.75 -2.12%
Berkshire Hathaway… CAPS Rating: ****
BRK-B $131.23 Down -2.81 -2.10%
Berkshire Hathaway CAPS Rating: *****
USB $41.06 Down -1.30 -3.06%
US Bancorp CAPS Rating: ****