Berkshire Hathaway Cuts Stake in U.S. Bancorp By More Than Half. Buffett Has Been Selling Financials.

A new filing indicates that

Berkshire Hathaway

cut its stake in

U.S. Bancorp

by 56% to 52.5 million shares that are now worth $2.4 billion.

In a form 13-G filing dated Thursday, Berkshire Hathaway (BRK.A, BRK.B) reported the holding of 52.5 million shares of U.S. Bancorp (USB) on Oct. 31, down from 119.8 million shares on June 30. Berkshire now owns 3.5% stake in the large Minneapolis-based regional bank, down from 8%.