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Berkshire Reports Synchrony Stake, Building Credit Card Bet

  • Buffett’s company exits its holding in General Electric
  • Berkshire reduces stakes of American Airlines, Delta

Warren Buffett’s Berkshire Hathaway Inc. added a stake in Synchrony Financial during the second quarter, extending its bet on the credit-card industry.

Berkshire had 17.5 million shares as of June 30, valued at about $520 million at the time, according to a regulatory filing Monday from the billionaire’s Omaha, Nebraska-based company.

Buffett is the biggest investor in American Express Co., which makes loans to credit card borrowers and also runs a payments network. Stamford, Connecticut-based Synchrony, which is known for issuing credit cards under the brand of retail partners, serves in the same two roles.

“That’s something that’s difficult to replicate,” Arren...