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NEWS - INVESTMENT

Buffett buys into Nestle and Exxon

17 Nov 2009 | 12:51
Will Roberts

Categories: Investment

Topics: Warren buffett

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Warren Buffett's investment firm Berkshire Hathaway has revealed it owns new stakes in Nestle and Exxon Mobil.

In a filing to the US Securities and Exchange Commission, Berkshire Hathaway says it holds 3.4 million American depositary receipts of Nestle, worth $144.7m.

In addition, the firm owns 1.28 million shares in oil giant Exxon Mobil, valued at $87.6m.

Berkshire Hathaway has also nearly doubled its stake in Wal-Mart, the world's biggest retailer.

The new holdings in Nestle and Exxon come as the US billionaire's investment firm reduces its stakes in ratings agency Moody's and oil company ConocoPhillips.

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