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Bloomberg
Warren Buffett’s Berkshire Hathaway Inc. took a position in Jefferies Financial Group Inc. even as it trimmed its stake in financial stocks including US Bancorp and Bank of New York Mellon Corp.
The conglomerate held more than 433,000 shares of Jefferies, the New York-based investment bank, as of September 30, according to a quarterly filing Berkshire was a net buyer of equities in the quarter, with $3.7 billion of purchases after sales. The company trimmed its exposure to financial stocks by roughly $4.7 billion in the period. Its stake in US Bancorp decreased from over 9% to about 3.6%, Berkshire said last week in a separate filing. And it sold $442.2 million of BNY Mellon shares in the period, cutting its holdings after eight quarters of no change.