Berkshire Hathaway Increases Bet on Banks and Other Financial Services Firms in 3Q
As we noted last week, wide-moat rated Berkshire Hathaway spent some $14 billion on the purchase of financial services stocks in the third quarter, with the sector accounting for 40.7% of Berkshire's reported equity portfolio at the end of September (much higher than the 13.8% financials weighting in the S&P 500 Index). The insurer's second largest sector weighting at the end of the third quarter was in technology, which accounted for 27.7% of Berkshire's equity portfolio, but much of that w...Bank of New York Mellon divides its businesses into two business segments, Investment Services and Investment Management. The company also has an Other segment, which includes the leasing portfolio, corporate treasury activities, derivatives and other trading activity, corporate and bank-owned life insurance, renewable energy investments and business exits. The company's two principal United States banking subsidiaries engage in trust and custody activities, investment management services, banking services and various securities-related activities. The company has four other United States bank and/or trust company subsidiaries concentrating on trust products and services across the United States.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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