Warren Buffett says bank stocks are ‘very attractive compared to most other securities I see’

Business

Warren Buffett

David A. Grogan | CNBC

Berkshire Hathaway founder Warren Buffett called out bank stocks as one of his favorite equity holdings in the U.S. market. 

“I feel very good about the banks we own. They’re very attractive compared to most other securities I see,” Buffett told CNBC’s Becky Quick on “Squawk Box” on Monday.

Banks are a big part of Berkshire Hathaway’s portfolio, which is worth more than $248 billion.

Goldman Sachs, JPMorgan Chase, Bank of America, BNY Mellon, and U.S. Bancorp were all among Berkshire’s 15 largest stock holdings.

“Banking is a good business if you don’t dumb things on the asset side, I mean, basically,” Buffett said. “The banks we own earn between … 12% and 16% or so on net tangible assets. That’s a good business, that’s a fantastic business against the long-term bond at 2%.”

— CNBC’s Fred Imbert contributed to this report.

This story is developing. Please check back for updates.

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