23 August 2017
Find out more

Buffett offloads Fiserv stake

16 February 2011  |  9254 views  |  0 Buy Road sign

Warren Buffett's Berkshire Hathaway has offloaded its entire stake in fintech vendor Fiserv as part of a $1.2 billion selling spree that also saw Bank of America stock dumped.

The Sage of Omaha placed a $220 million bet on the prospects of a rosy future for banking technology firms by snapping up 4.4 million shares in Fiserv last August.

However, the stock has already been sold, along with all of Berkshire Hathaway's holdings in BofA, Nike, Nestle, Loews, Becton, Dickinson & Co and Nalco.

All of the positions exited were holdings of Berkshire subsidiary Geico Corp, a car insurer. It coincides with the retirement of long-time Geico money manager Louis Simpson and his replacement by former hedge-fund manager Todd Combs.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Buffett bets on fintech future with $220 million Fiserv stake

Buffett bets on fintech future with $220 million Fiserv stake

18 August 2010  |  13048 views  |  0 comments | 1 tweets
Fiserv Q1 feels the effect of severance, merger costs and mortgage processing

Fiserv Q1 feels the effect of severance, merger costs and mortgage processing

01 May 2009  |  4637 views  |  0 comments | 1 tweets

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.vasco.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12734 views comments | 27 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11361 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10517 views comments | 21 tweets | 34 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10476 views comments | 10 tweets | 8 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10440 views 0 | 6 tweets | 1 linkedin