Buffett's Berkshire dumps GE, adds Synchrony

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FILE - In this May 4, 2015 file photo, Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview with Liz Claman on the Fox Business Network in Omaha, Neb. Buffett says the United States' economy is in better shape than the ... presidential candidates make it seem. Buffett said Saturday, Feb. 27, 2016 in his annual letter to Berkshire Hathaway shareholders that any baby born in the country today will live better than their parents, even with the current slow economic growth. (AP Photo/Nati Harnik, File) (AP Photo)

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.

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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.

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Investors follow Berkshire's stock holdings closely to determine what has won or lost Buffett's favor. 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)

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