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Buffett reduces stake in Constellation

Buffett reduces stake in Constellation
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Berkshire Hathaway, the stock market investment vehicle of Warren Buffett, has reduced its stake in Constellation Energy Group, it has emerged.

In a filing with the US Securities and Exchange Commission yesterday (February 9th), Berkshire's MidAmerican Energy Holdings unit revealed it has reduced its stake in the company by 7.45 per cent to just under 15 million shares.

Last month, Berkshire sold off an extra 2.67 million shares in Constellation, reports Reuters.

Constellation shares were down 50 cents (0.33p) in trading on the New York Stock Exchange on Monday.

Recently, Mr Buffett injected around $300 million into the iconic US motorcycle manufacturer Harley Davidson.

Harley Davidson has recently seen a fall in demand for its motorbikes as a result of the economic downturn.

Following news of the investent, RBC Capital Markets' Ed Aaron noted: "Harley's finance arm needs capital in a highly constrained credit environment."ADNFCR-1681-ID-19017539-ADNFCR