Warren Buffett beefs up GM stake to 25 million shares
February 15, 2013
by David Phillips
Warren Buffett's Berkshire Hathaway Inc. has acquired 10 million more shares of General Motors, lifting its holdings in the company to 25 million shares.
The latest investment -- disclosed in a Securities and Exchange Commission filing on Thursday -- comes as the U.S. government unloads a portion of its stake in the company.
GM shares fell 3.2 percent, or 92 cents, to $27.75 on Thursday in New York Stock Exchange trading following the release of the company's fourth-quarter and 2012 financial results. The shares rose 1 cent today to $27.76.
Berkshire's GM shares are worth about $694 million based on Thursday's closing price, making it among the automaker's biggest shareholders.
Buffett is well known as a value investor with patience and a long-term view of equity markets.
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