Reuters

(Reuters)

Did Buffett Sell Berkshire's Wells Fargo Holdings?

By Earnings Reuters

Berkshire Hathaway Inc <BRKa.N> on Friday said third-quarter profit fell 24 percent from a year earlier, when it recorded a large one-time gain, though operating profit grew at the conglomerate run by billionaire Warren Buffett.

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The company also suggested it may have held onto its stake during the quarter in Wells Fargo & Co <WFC.N>, which has been embroiled in a scandal over its creation of unauthorized customer accounts. Berkshire is the bank's largest shareholder.

Quarterly net income for Omaha, Nebraska-based Berkshire fell to $7.2 billion, or $4,379 per Class A share, from $9.43 billion, or $5,737 per Class A share, a year earlier.

Operating profit rose 7 percent to $4.85 billion, or $2,951 per share, from $4.55 billion, or $2,769.

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