Warren Buffett's Berkshire Hathaway Inc said on Friday it has sold much of its stake in Goldman Sachs Group Inc , despite the billionaire's assurance that the banking sector was not a 'primary worry' for him during the coronavirus pandemic.
A request for comment to Buffett’s assistant was not immediately returned. Berkshire has more than 90 operating units including Geico, the BNSF railroad, Dairy Queen ice cream and its namesake energy business.
The Goldman stake originated in a $5 billion preferred stock investment at the height of the 2008 financial crisis, in a vote of confidence by Buffett for the Wall Street bank.
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