Fly News Breaks for October 15, 2018
News For PNC From the Last 2 Days
Nov 15, 2018 | 08:36 EDT
Following the release last night of 13F filings detailing the holdings of large investors, including Berkshire Hathaway (BRK.A), Morgan Stanley analyst Kai Pan noted that the filing from Warren Buffett's Berkshire revealed increased stakes in Bank of America (BAC), U.S. Bancorp (USB) and Goldman Sachs (GS) along with new stakes in JPMorgan (JPM), PNC Financial (PNC) and Travelers (TRV). The analyst sees these investments, along with the fact that Berkshire's s financial holdings stood at 46% of its overall $203B equity portfolio as of quarter end, as a "clear signal" of the value that Buffett sees in financials, Pan tells investors. He adds that he views Buffett's new stake in Oracle (ORCL) as another "notable" new purchase.