Buffett's Berkshire takes $52m stake in BNY Mellon

Warren Buffett's Berkshire Hathaway has taken a $52m stake in the Bank of New York Mellon and increased its holding in Wells Fargo.

Berkshire had 1.99m shares of BNY Mellon at the end of the third quarter, while it had 336.4m shares of Wells Fargo, up from 320.1m three months earlier. The group also increased its investment in Johnson & Johnson. Buffett's Berkshire bought $611m of equities in the quarter, but sold off positions worth $1.82m. Berkshire has increased its Wells Fargo stake in four quarters since the beginning of 2009, as the banking system continues its fightback from the depths of the financial crisis. The Omaha-based group's cash holdings jumped 23% to $34.5bn in the third quarter, helped by ear...