Berkshire Hathaway Inc. made new investments in Synchrony Financial and STORE Capital Corp., a real estate investment trust, in the second quarter, according to the company's latest investment ownership filing.
The insurance conglomerate bought 17,463,000 shares in Synchrony, the private-label credit card provider, and 18,621,674 shares of STORE Capital. The investments were valued at about $520.7 million and $418.1 million, respectively, as of June 30.
Warren Buffett, the legendary investor at the helm of Berkshire, also bought more shares in Bank of New York Mellon Corp., increasing Berkshire's position in the bank by 17,217,529 shares. The expanded stake of 50,229,588 shares were worth about $2.56 billion at the end of the second quarter.
Berkshire also made notable divestitures during the quarter. The company offloaded its shares in General Electric, selling more than 10.5 million shares to liquidate the position. The stake was worth about $315.4 million at the end of the first quarter.
The company sold 11,717,000 shares of Wells Fargo & Co. during the second quarter, bringing that position to 467,987,270 shares worth $25.93 billion as of June 30. Berkshire disclosed much of that sale in April, when it said it was planning to decrease its stake to avoid owning more than 10% of the bank.