GO
Loading...

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.

Symbol
Price
 
Change
%Change
NOVU
---

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.

Symbol
Price
 
Change
%Change
NSC
---
UNP
---

Buffett generally favors companies with stable, easy-to-understand businesses that are industry leaders and whose shares appear undervalued. Shares of companies often rise when Berkshire discloses investment stakes.

Don't Miss

U.S. Video

  • Cliff Robbins, Blue Harbour Group founder & CEO, explains how buybacks can create a ton of stockholder value. Martin Franklin, Jarden executive chairman, weighs in.

  • Discussing U.S. economic growth, and why he doesn't invest in the stock market, Martin Franklin, Jarden executive chairman.

  • Discussing the health of U.S. jobs and wage growth, and the impact to the economic recovery, with Russ Koesterich, BlackRock, and Liz Ann Sonders, Charles Schwab.