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Berkshire Hathaway buys stake in Exxon Mobil

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Warren Buffett-led Berkshire Hathaway (NYSE: BRK-B) bought a $3.45 billion stake in oil giant Exxon Mobil Corp. (NYSE: XOM) during the third quarter, according to the Los Angeles Times.

According to the Nov. 15 report, Berkshire Hathaway began buying shares in the second quarter and held roughly 40 million shares in Exxon as of Sept. 30.

While the stake is large, it represents a fraction of Berkshire’s investment holdings, which are valued at $92 billion.

Read more from the Los Angeles Times.

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