Why Did Warren Buffett Sell Wells Fargo and Buy Verizon?

Matthew Frankel, CFP, The Motley Fool
·4 min read

We recently got a glimpse at Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) stock portfolio as it stood at the end of 2020, and there were a few moves that surprised many investors. Two in particular are Warren Buffett's continuing disposal of Berkshire's once-massive Wells Fargo (NYSE: WFC) investment, and the decision to put billions of dollars to work in telecom giant Verizon Communications (NYSE: VZ).