Berkshire Hathaway sells off GE stake, boosts BNY Mellon

Berkshire holds major stakes in Coca-Cola, Wells Fargo, American Express and other companies

FILE - In this Oct. 8, 2014, file photo, people walk to work on Wall Street beneath a statue of George Washington, in New York. Stock markets around the world remained buoyed Tuesday, Aug. 15, 2017, by a seeming further easing in tensions between the United States and North Korea, which has helped investors rediscover their appetite for riskier assets following last week's aversion. (AP Photo/Mark Lennihan, File)

OMAHA, Neb. (AP) – Warren Buffett’s company has eliminated its stake in General Electric and boosted its investment in the Bank of New York Mellon Corp.

Berkshire Hathaway revealed those moves and several other changes to its U.S. stock portfolio in a filing with the Securities and Exchange Commission on Monday.

Berkshire didn’t list any GE shares in its holdings at the end of June. Previously, it owned 10.6 million shares.

Buffett’s Omaha, Nebraska-based company increased its stake in BNY Mellon to 50.2 million shares from 33 million in March.

Many investors follow what Berkshire buys and sells because of Buffett’s remarkably successful record over more than five decades.

Berkshire holds major stakes in Coca-Cola, Wells Fargo, American Express and other companies as well as more than 90 operating companies.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s