Warren Buffett's Berkshire Hathaway (BRK-A) bought shares of Bank of New York Mellon (BK) while selling its stake in Home Depot (HD) during the third quarter.
The holding company acquired about 2 million Bank of New York shares, worth about $52 million, according to a Securities and Exchange Commission document the company filed Monday. Berkshire Hathaway, which had 2.8 million Home Depot shares, worth about $77 million as of June 30, sold that stake during the quarter, according to company filings.
Berkshire Hathaway also sold its shares of Iron Mountain (IRM) and Carmax (KMX) during the quarter.
Earlier this month, Berkshire Hathaway reported that second-quarter earnings fell 7.7% from a year earlier after losses from derivatives more than offset operating gains largely from its February acquisition of railroad operator Burlington Northern Santa Fe Corp. Net income was $2.99 billion, or $1,814 per Class-A a share, down from $3.24 billion, or $2,087, a year earlier.
Revenue increased 21% to $36.3 billion. Berkshire, whose companies also include GEICO, See's Candies and Dairy Queen, was expected to earn $1,677 a share on $33.7 billion in revenue, the average analyst estimate in a Thomson Reuters survey.
Home Depot shares were little changed in extended trading Monday, while Bank of New York shares rose 1.7% to $28.19 at about 5 p.m. Eastern time.