Berkshire raises stake in railroad
Billionaire investor Warren Buffett’s Berkshire Hathaway Inc. boosted its stake in Burlington Northern Santa Fe Corp., the second-largest U.S. railroad, to nearly 15%.
Berkshire bought 10.1 million shares of the Fort Worth carrier, in which it was already the biggest shareholder, from Wednesday through Monday, the firm said in a regulatory filing.
The purchases increased Berkshire’s stake to 52.1 million shares. Berkshire, based in Omaha, first disclosed rail holdings in an April filing. Buffett said in May he also bought shares of Union Pacific Corp. and Norfolk Southern Corp.
Shares of Burlington Northern fell 22 cents to $80.33. They gained 22% in the last 12 months. Berkshire declined $850 to $119,000. The stock has gained 24% in the last year.
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