Berkshire Exits Synchrony Bet, Adds Stake in Broker Aon

Berkshire Exits Synchrony Bet, Adds Stake in Broker Aon

(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. exited a bet on Synchrony Financial as the company continued to pare back its investments in financial firms.

Berkshire reported Monday that it no longer held any shares in Synchrony and trimmed its Wells Fargo & Co. bet to just over 675,000 shares. Buffett’s company added shares in insurance broker Aon Plc, which is seeking to close a deal with rival Willis Towers Watson Plc.

Buffett’s company has spent the last year revamping its holdings in financial companies, sticking by a massive stake in Bank of America Corp. valued at $39.1 billion as of March 31, while exiting investments in JPMorgan Chase & Co. and Goldman Sachs Group Inc. Berkshire’s more than three-decade investment in Wells Fargo has been slowly disappearing in recent years.