Berkshire Hathaway sells off GE stake, boosts BNY Mellon

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 This material may not be published, broadcast, rewritten or redistributed.

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