Berkshire Takes Stake in Jefferies, Cuts Back on Other Banks (1)

Warren Buffett’s Berkshire Hathaway Inc. took a position in Jefferies Financial Group Inc. even as it trimmed its stake in financial stocks including US Bancorp and Bank of New York Mellon Corp.

The conglomerate held more than 433,000 shares of Jefferies, the New York-based investment bank, as of Sept. 30, according to a quarterly filing Monday.

Jefferies was one of three new bets unveiled by Berkshire. It also disclosed a position of 60 million American depository receipts of chipmaker Taiwan Semiconductor Manufacturing Co., as well as a stake in manufacturer Louisiana-Pacific Corp.

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