Bloomberg News

Berkshire Has 7.7% Stake in Wells Fargo as Buffett Bets on Bank

February 14, 2012

Feb. 14 (Bloomberg) -- Berkshire Hathaway Inc. accumulated a 7.7 percent stake in Wells Fargo & Co., the largest U.S. bank by market value, as Chairman Warren Buffett wagers that stocks will outperform bonds.

Buffett’s firm held more than 400 million shares of the lender, according to a regulatory filing today listing holdings as of Dec. 31.

--With assistance from Andrew Frye in New York. Editors: Dan Kraut, Rick Green

To contact the reporter on this story: Noah Buhayar in New York at Nbuhayar@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


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