Buffett Buys Stakes in Bank of America, Dow Jones
Billionaire investor Warren Buffett bought a major stake Bank of America and added a significant investment in Dow Jones as well, a regulatory filing shows.
Buffett's Berkshire Hathaway said it owned 8.7 million shares of Bank of America, the second-largest U.S. bank, valued at $425.3 million.
In the latest filing, Berkshire also reported a 2.78 million share stake in Dow Jones, the publisher of the Wall Street Journal, valued at $159.8 million. Dow Jones is in the process of being sold to Rupert Murdoch's News Corp
Berkshire, an insurance and investment company, does not list its holdings in railroads Norfolk Southern and Union Pacific. Berkshire says that information had been omitted from the public filing with the SEC's permission.
Berkshire said it added 4.4 million Burlington Northern shares to the 34.6 million it held at the end of the second quarter.