Buffett's Berkshire sheds GE, adds Synchrony

NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Monday said it has taken a 17.5 million share stake in Synchrony Financial and shed its investment in the financial services company's former parent, General Electric Co .

In a regulatory filing detailing its U.S.-listed stock holdings, Berkshire said it owned about $521 million of Synchrony shares as of June 30.

It also reported no holdings of GE, after having reported a roughly $315 million stake as of March 31.

Investors follow Berkshire's stock holdings closely to determine what has won or lost Buffett's favour. Smaller equity investments at Berkshire are normally made by Buffett's deputies Todd Combs and Ted Weschler.

 

(Reporting by Jonathan Stempel in New York; Editing by Phil Berlowitz)