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-1.79 (-3.64%) 
] this spring and summer, accumulating a total of 84 million shares as of the end of the third quarter on September 30, according to Berkshire's just-released quarterly portfolio filing with the SEC.In mid-May, Berkshire reported holding 17.5 million shares as of March 31. That means Berkshire's stake in Conoco increased almost five-fold over six months.
Its Conoco holdings were kept confidential and not included in its portfolio snapshot released in mid-August for the end of the second quarter. A separate filing tonight reveals that Berkshire held 59.7 million shares as of June 30.
At today's closing price of $47.39, Berkshire's stake in Conoco is worth almost $4 billion, and accounts for 7.3 percent of its U.S. stock portfolio. Conoco's stock has dropped almost 32 percent since September 30. At that point, the stake was worth just over $6 billion.
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Today's filing for the third quarter also reveals a new 2.9 million share stake in Eaton Corporation. [ETN 41.15 -1.43 (-3.36%) ] That stake was worth about $163 million as of September 30. The stock has dropped 23.5 percent since then, bringing the market value of the holdings down to just under $120 million. Eaton describes itself as a "diversified power management company."
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Berkshire increased its holdings in NRG Energy [NRG 22.65 -1.20 (-5.03%) ] to 5 million shares from 3.2 million shares, an increase of 54 percent. Berkshire first started buying NRG shares during the second quarter of this year.
Aside from those three stocks, Buffett wasn't doing any buying for Berkshire through the end of September. Stock market declines accelerated in October, and in the middle of the month Buffett wrote in the New York Times that he'd been enthusiastically picking up U.S. stocks for his personal account. We'll almost certainly have to wait until Berkshire's December 31 snapshot is released in mid-February to see if he was also buying after September 30 for the company's portfolio.
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Berkshire's stake in Bank of America [BAC 16.42 -0.68 (-3.98%) ] was almost cut in half during the third quarter, dropping 45 percent to 4.1 million shares from 5 million.
Carmax [KMX 8.36 -0.76 (-8.33%) ] dropped to 18.4 million shares from 21.3 million, a decline of 13.4 percent.
Berkshire stake in Home Depot [HD 20.54 -1.69 (-7.6%) ] dropped by 11.5 percent, to 3.7 million shares from 4.2 million.
Lowe's [LOW 18.23 -1.50 (-7.6%) ] was trimmed by 7.1 percent to 6.5 million shares from 7 million.
ADDED STAKE
- Eaton Corp. added at 2,908,700 shares. [ETN 41.15 -1.43 (-3.36%) ]
INCREASED STAKES
- Comdisco stake increased slightly to 1,538,377 shares from 1,537,866 shares.[CDCO 7.6 -0.20 (-2.56%) ]
- ConocoPhillips stake increased 40.7% to 83,955,800 shares from 59,688,000 shares. [COP 47.39 -1.79 (-3.64%) ]
- NRG Energy stake increased 54.4% to 5,000,000 shares from 3,238,100 shares. [NRG 22.65 -1.20 (-5.03%) ]
- US Bancorp stake increased 6.3% to 72,937,126 shares from 68,631,026 shares. [USB 26.30 -1.08 (-3.94%) ]
DECREASED STAKES
- Bank of America stake decreased 45.1% to 5,000,000 shares from 9,100,000 shares. [BAC 16.42 -0.68 (-3.98%) ]
- Carmax stake decreased 13.4% to 18,444,100 shares from 21,300,000 shares. [KMX 8.36 -0.76 (-8.33%) ]
- Home Depot stake decreased 11.5% to 3,700,000 shares from 4,181,000 shares. [HD 20.54 -1.69 (-7.6%) ]
- Lowes Companies stake decreased 7.1% to 6,500,000 shares from 7,000,000 shares. [LOW 18.23 -1.50 (-7.6%) ]
- UnitedHealth Group stake decreased 0.3% to 6,379,900 shares from 6,400,000 shares. [UNH 20.02 -0.82 (-3.93%) ]
- Wells Fargo stake decreased 0.1% to 290,407,668 shares from 290,654,868 shares. [WFC 28.73 -0.36 (-1.24%) ]
- Wellpoint stake decreased 0.5% to 4,777,300 shares from 4,800,000 shares. [WLP 35.24 -0.26 (-0.73%) ]
UNCHANGED STAKES
- American Express unchanged at 151,610,700 shares.
[AXP 19.99 -0.79 (-3.8%) ]
- Anhesuer-Busch stake unchanged at 13,845,000 shares.
[BUD 68.50
0.57 (+0.84%) ] - Burlington Northern unchanged at 63,785,418 shares.
(Berkshire reported holding 64,610,418 shares as of October 28.)
[BNI 79.63 -2.93 (-3.55%) ] - Coca-Cola unchanged at 200,000,000 shares.
[KO 45.02 -1.26 (-2.72%) ] - Comcast unchanged at 12,000,000 shares.
[CMCSA 15.53 -0.73 (-4.49%) ] - Costco Wholesale unchanged at 5,254,000 shares.
[COST 48.06 -1.91 (-3.82%) ] - Gannett unchanged at 3,447,600 shares.
[GCI 8.15 -0.38 (-4.45%) ] - General Electric unchanged at 7,777,900 shares.
[GE 16.02 -0.84 (-4.98%) ] - GlaxoSmithKline unchanged at 1,510,500 shares.
[GSK 36.25 -0.98 (-2.63%) ] - Ingersoll-Rand unchanged at 5,636,600 shares.
[IR 15.11 -1.17 (-7.19%) ] - Iron Mountain unchanged at 3,372,200 shares.
[IRM 20.75 -0.77 (-3.58%) ] - Johnson & Johnson unchanged at 61,754,448 shares.
[JNJ 60.05 -2.85 (-4.53%) ] - Kraft Foods unchanged at 138,272,500 shares.
[KFT 27.44 -0.67 (-2.38%) ] - M&T Bank unchanged at 6,715,060 shares.
[MTB 65.83 -1.46 (-2.17%) ] - Moody's unchanged at 48,000,000 shares.
[MCO 19.33 -2.82 (-12.73%) ] - Nike unchanged at 7,641,000 shares.
[NKE 46.53 -2.33 (-4.77%) ] - Norfolk Southern unchanged at 1,933,000 shares.
[NSC 51.98 -2.11 (-3.9%) ] - Procter & Gamble unchanged at 105,847,000 shares.
[PG 63.11 -1.94 (-2.98%) ] - Sanofi Aventis unchanged at 3,903,933 shares.
[SNY 30.22 -1.45 (-4.58%) ] - SunTrust Banks unchanged at 3,204,600 shares.
[STI 33.52 -2.15 (-6.03%) ] - Torchmark unchanged at 2,823,879 shares.
[TMK 38.47 -1.44 (-3.61%) ] - USG unchanged at 17,072,192 shares.
[USG 9.12 -0.55 (-5.69%) ] - Union Pacific unchanged at 8,906,000 shares.
[UNP 57.27 -4.34 (-7.04%) ] - United Parcel Service unchanged at 1,429,200 shares.
[UPS 53.14 -1.95 (-3.54%) ] - Wabco Holdings unchanged at 2,700,000 shares.
[WBC 16.00 0.54 (+3.49%) ] - Wal-Mart Stores unchanged at 19,944,300 shares.
[WMT 52.71 -2.22 (-4.04%) ] - Washington Post unchanged at 1,727,765 shares.
[WPO 393.00 -21.20 (-5.12%) ] - Wesco Financial unchanged at 5,703,087 shares.
[WSC 303.00 -15.00 (-4.72%) ]
Current Berkshire stock prices:
Class A: [US;BRK.A 101000.0 -1800.00 (-1.75%) ]
Class B: [US;BRK.B 3389.0 -36.00 (-1.05%) ]
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1 comments:
You may enjoy "The Four Filters Invention of Warren Buffett and Charlie Munger."
http://www.amazon.com/dp/0615241298
It explains and honors the intellectual partnership of two brilliant men. The genius of Buffett and Munger's four filters innovation was to "capture all the important stakeholders" in one "multi-variable" four step process.
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