Warren Buffett, the widely followed chairman of Berkshire Hathaway, has sold the company’s entire stake in Bank of America Corp. while adding to his holdings in Wells Fargo & Co..

Berkshire’s ownership of BofA (NYSE:BAC) wasn’t rewarding. The legendary investment firm built a large stake in the bank in early 2007, buying 7.8 million shares in the first quarter, according to The Wall Street Journal. The bank’s shares traded at roughly $45 to $51 during that time.

With the bank sector and economy cratering in the third quarter of 2007, Buffet unloaded 4.1 million shares at a range of roughly $22 to $34.50. The remaining 5 million shares were sold in the fourth quarter, when BofA shares traded at $11 to $13.50.

Buffett picked up 6.2 million shares of Wells Fargo in the fourth quarter, according to a filing with the U.S. Securities and Exchange Commission. The Wells Fargo stake of about 342 million shares accounts for a fifth of Berkshire’s $52 billion investment portfolio.

Read more: Warren Buffett sells stake in BofA | Charlotte Business Journal
http://www.bizjournals.com/charlotte/news/...

Wonder if this has anything to do with the stories about upcoming leaks