BUSINESS

Berkshire Hathaway Buys $3.45 Billion Stake In Exxon Mobil

Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., smiles during an interview in New York, U.S.
Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., smiles during an interview in New York, U.S., on Tuesday, Oct. 22, 2013. Warren Buffett and his late first wife, Susan, gave and pledged billions to each of their three children to fund charitable foundations. Howard, an Illinois farmer, picked global hunger as his target. Photographer: Scott Eells/Bloomberg via Getty Images

(Reuters) - Warren Buffett's Berkshire Hathaway Inc on Thursday disclosed a new $3.45 billion stake in Exxon Mobil Corp, after buying 40.1 million shares in the world's largest publicly traded oil company.

The purchase was disclosed in a U.S. Securities and Exchange Commission filing that detailed Berkshire equity investments, mostly listed on U.S. exchanges, as of September 30.

Berkshire also disclosed other changes to its holdings, including a reduced stake in another oil company, ConocoPhillips.

U.S. regulators require large investors to disclose their stock holdings every quarter, and the disclosures can offer a window into their strategies for buying and selling stocks.

(Reporting by Luciana Lopez and Jonathan Stempel in New York; Editing by Gary Hill)

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