Recently, legendary investor Warren Buffett and his company Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) disclosed their latest 13F filing, in which the conglomerate reported what stocks it bought and sold during the fourth quarter of 2021. As expected, Berkshire maintained its more than 72 million shares in the large custodian Bank of New York Mellon (NYSE: BK) , a position it first started in 2018.
Buffett's and Berkshire's decision to maintain their position is a testament to Bank of New York Mellon, because they disposed of several bank stocks during the pandemic. It may also be a good reason for investors to give Bank of New York Mellon a look, because it's a stock that may hold up well against some of the volatility and inflation markets are currently experiencing.
Heading into the pandemic, Buffett and Berkshire held a basket of banks including several large money-center banks, investment banks, large regional banks, and credit card companies. But when the pandemic hit the economy in March of 2020, Berkshire would, over the next few months, get much more selective, dumping many of its bank holdings.
For further details see:
1 Warren Buffett Stock to Buy During Market Volatility