(Bloomberg) -- Billionaire Warren Buffett's Berkshire Hathaway Inc. disclosed a stake in NRG Energy Inc., the second-biggest power producer in Texas. Buffett also made an undisclosed transaction involving ConocoPhillips, the second- largest U.S. refiner.
Berkshire had 3.24 million NRG shares as of June 30, the Omaha, Nebraska-based company said today in a regulatory filing disclosing equity investments at the end of the second quarter.
``When there are market dislocations we're always going to take advantage of them,'' Buffett, 77, told reporters at Berkshire's annual shareholder meeting in May.
Berkshire spent $3.98 billion on stocks in the quarter, more than twice the investment from the previous three months, separate filings show. The company was the largest shareholder of companies including Coca-Cola Co. and American Express Co. as of June 30, with an equity portfolio valued at $69.5 billion.
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