NEW YORK ( TheStreet) -- Exxon Mobil (XOM - Get Report) shares traded to the upside on Friday morning following the release of legendary investor Warren Buffett's quarterly update. U.S. regulators force large investors like Buffett to disclose their stock holdings every quarter for greater transparency. On Thursday, Berkshire Hathaway (BRK-A) reported its 13-F filing for the quarter ended Sept. 30.Many small and large investor take great interest in these disclosures as they offer a glimpse into smart money's strategies for buying and selling stocks. On Thursday, Buffett disclosed a new $3.75 billion stake following the acquisition of 40.1 million shares in the largest publicly traded oil company. In an accompanying's amended Securities and Exchange Commission filling we see the majority of these shares, more than75%, were purchased in the three months leading up to June 30. Occasionally large investors like Buffett can arrange for delayed disclosures to avoid the market following his actions and pushing his purchase price higher.
Buffett Reports Exxon Stake, Shares Rise
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