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Berkshire Hathaway Ups Its Stake in Airlines
Regulatory filings from Berkshire Hathaway in mid-November show that the company now holds stakes in three major domestic airlines, as of the end of the third quarter. Benzinga reports that Warren Buffett’s financial service’s conglomerate picked up shares in American Airlines, Delta Air Lines, and United Continental a peculiar move coming from the man who is known for snubbing the industry for many years. The change of heart by Buffett, however, now has investors’ eyes on the lone exchange-traded fund that invests in the airline industry, the U.S. Global Jets ETF (JETS).
The article points out that Berkshire Hathaway now owns some of the top holdings in JETS, with Buffett adding Southwest Airlines since the end of the third quarter, according to a CNBC report. “In other words, Berkshire Hathaway now owns stakes in companies that comprise more than half the lineup of JETS,” reports Benzinga.
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