Berkshire Wrote Down U.S. Bancorp, Swiss Re After SEC Query
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Warren Buffett’s Berkshire Hathaway Inc. wrote down the value of holdings in U.S. Bancorp, Sanofi-Aventis SA and Swiss Reinsurance Co. after a query from the Securities and Exchange Commission over valuations.
The adjustments to the equity stakes were made to Berkshire’s fourth-quarter results in its annual Form 10-K report, according to a Feb. 4 letter from Omaha, Nebraska-based Berkshire to the regulator. The letter was filed today on the SEC’s website.