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Tuesday, November 17, 2009

CNBC: Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer

Published: Monday, 16 Nov 2009 | 4:38 PM ET

By: Alex Crippen
Executive Producer

Buffett Bets on Frugal Consumers

In what appears to be a bet consumers will stick with discount retailers even after the economy rebounds, Warren Buffett's Berkshire Hathaway increased its Wal-Mart holdings by almost 90 percent during the summer.

It added almost 18 million shares, currently worth almost $1 billion, in the third quarter.

An SEC filing detailing Berkshire's stock holdings as of September 30 shows its Wal-Mart

WAL MART STORES INC
WMT

53.16 -0.04 -0.08%
NYSE
[WMT 53.16 -0.04 (-0.08%) ] stake going to 37.84 million shares, up from 19.9 million shares as of June 30.

At today's closing price of $53.56, Berkshire's Wal-Mart stake is worth just over $2 billion. That's less than one percent of Wal-Mart's total market value of about $205 billion.

Berkshire's filing also reveals a new stake of 3.4 million shares in the ADRs of Nestle.

NESTLE N
NSRGY

47.51 0.54 +1.15%
NASDAQ
[NSRGY 47.51 0.54 (+1.15%) ] It's valued at $161 million as of today's close.

Berkshire also added a new, relatively small stake, in ExxonMobil

EXXON MOBIL CORP
XOM

74.43 1.96 +2.7%
NYSE
[XOM 74.43 1.96 (+2.7%) ]. It held almost 1.3 million shares, currently worth about $95 million, as of September 30. A smaller stake of 854,490 shares as of June 30 was also revealed in a separate filing today. It was not included three months ago in Berkshire's original filing for the second quarter.

That filing, like today's, said some "confidential information has been omitted" from the public report, but had been "filed separately" with the SEC.

Among the other changes:

  • Small stake in Travelers [TRV 52.94 -0.34 (-0.64%) ] added: 27-thousand shares worth about $1.5 million.

  • Small stake in the solid waste disposal company Republic Services [RSG 27.97 0.45 (+1.64%) ] added: 3.6 million shares worth about $96 million.

  • Wells Fargo [WFC 28.21 0.53 (+1.91%) ] holdings up 3.6 percent to 313.36 million shares.

  • ConocoPhillips [COP 53.84 1.01 (+1.91%) ] stake decreased by roughly 7 million shares during the third quarter.
    Berkshire Portfolio


  • NRG Energy [NRG 24.29 0.49 (+2.06%) ] holdings decreased almost 17 percent to 6 million shares.

  • SunTrust Banks [STI 20.91 0.84 (+4.19%) ] stake trimmed by just under 4 percent to 3.08 million shares.

  • Slight decrease in Wellpoint [WLP 52.86 0.45 (+0.86%) ] holdings to just under 3.4 million shares.

  • Wabco Holding [WBC 24.99 --- UNCH (0) ] stake of 2.7 million shares and Eaton [ETN 65.99 1.46 (+2.26%) ] stake of 2 million shares eliminated.

The total market value of Berkshire's U.S. stock portfolio increased to $56.55 billion as of September 30. That's 15.5 percent higher than June 30's $48.95 billion.

The portfolio is valued at almost $60.7 billion based on today's closing prices, excluding the stakes in Norfolk Southern and Union Pacific that Buffett says have been sold to "facilitate" Berkshire's planned acquisition of Burlington Northern Santa Fe. That deal was announced on November 3.

CNBC.com's Berkshire Hathaway Portfolio Tracker has been updated with the information in today's SEC filing.

Here are the details from tonight's Berkshire Hathaway portfolio snapshot as of September 30, 2009, compared to the filing for June 30, 2009:

ADDED/ELIMINATED STAKES

  • Eaton stake of 2,000,000 shares eliminated.
    [ETN 65.99 1.46 (+2.26%) ]

  • Nestle stake added at 3,400,000 ADRs.
    [NSRGY 47.51 0.54 (+1.15%) ]
  • Republic Services stake added at 3,625,000 shares.
    [RSG 27.97 0.45 (+1.64%) ]

  • Travelers stake added at 27,336 shares.
    [TRV 52.94 -0.34 (-0.64%) ]

  • Wabco Holdings stake of 2,700,000 shares eliminated.
    [WBC 24.99 --- UNCH (0) ]


INCREASED STAKES

  • ExxonMobil stake increased 49.4% to 1,276,290 shares from 854,490 shares as of June 30. The earlier stake was not revealed until today.
    [XOM 74.43 1.96 (+2.7%) ]

  • Wal-Mart Stores stake increased 89.7% to 37,836,642 shares.
    [WMT 53.16 -0.04 (-0.08%) ]

  • Wells Fargo stake increased 3.6% to 313,355,657 shares.
    [WFC 28.21 0.53 (+1.91%) ]

DECREASED STAKES

  • ConocoPhillips stake decreased 10.9% to 57,430,168 shares.
    [COP 53.84 1.01 (+1.91%) ]

  • Moody's stake decreased 18.3% to 39,219,312 shares. (On October 30, after the end of the third quarter, Berkshire disclosed that it had cut its stake in Moody's to 38,066,685 shares.)
    [MCO 23.98 0.39 (+1.65%) ]

  • NRG Energy stake decreased 16.7% to 6,000,000 shares.
    [NRG 24.29 0.49 (+2.06%) ]

  • SunTrust Banks stake decreased 3.9% to 3,079,778 shares.
    [STI 20.91 0.84 (+4.19%) ]

  • Wellpoint stake decreased 29.0% to 3,394,213 shares.
    [WLP 52.86 0.45 (+0.86%) ]


UNCHANGED STAKES

  • American Express unchanged at 151,610,700 shares.
    [AXP 41.44 1.09 (+2.7%) ]

  • Bank of America unchanged at 5,000,000 shares.
    [BAC 15.87 -0.11 (-0.69%) ]

  • Becton Dickinson unchanged at 1.2 million shares.
    [BDX 73.29 0.57 (+0.78%) ]

  • Burlington Northern Santa Fe unchanged at 76,777,029 shares. (Berkshire announced on November 3 that it has an agreement to buy the roughly 77% of Burlington shares it does not already own.)
    [BNI 98.05 0.08 (+0.08%) ]

  • Carmax unchanged at 9,000,000 shares.
    [KMX 21.27 0.31 (+1.48%) ]

  • Coca-Cola unchanged at 200,000,000 shares.
    [KO 56.74 0.28 (+0.5%) ]

  • Comcast unchanged at 12,000,000 shares.
    [CMCSA 15.85 0.42 (+2.72%) ]

  • Comdisco unchanged at 1,538,377 shares.
    [CDCO 10.20 -0.30 (-2.86%) ]

  • Costco Wholesale unchanged at 5,254,000 shares.
    [COST 61.12 0.65 (+1.07%) ]

  • Gannett unchanged at 3,447,600 shares.
    [GCI 11.50 0.70 (+6.48%) ]

  • General Electric unchanged at 7,777,900 shares.
    [GE 16.00 0.34 (+2.17%) ]

  • GlaxoSmithKline unchanged at 1,510,500 shares.
    [GSK 41.90 0.46 (+1.11%) ]

  • Home Depot unchanged at 2,757,898 shares.
    [HD 27.65 0.31 (+1.13%) ]

  • Ingersoll-Rand unchanged at 7,782,600 shares.
    [IR 37.23 0.37 (+1%) ]

  • Iron Mountain unchanged at 3,372,200 shares.
    [IRM 25.41 0.37 (+1.48%) ]

  • Johnson & Johnson unchanged at 36,914,633 shares.
    [JNJ 62.19 0.76 (+1.24%) ]

  • Kraft Foods unchanged at 138,272,500 shares.
    [KFT 27.63 0.72 (+2.68%) ]

  • Lowes Companies unchanged at 6,500,000 shares.
    [LOW 21.74 -0.11 (-0.5%) ]

  • M&T Bank unchanged at 6,715,060 shares.
    [MTB 63.40 0.90 (+1.44%) ]

  • Nalco Holding unchanged at 9,000,000 shares.
    [NLC 24.34 0.55 (+2.31%) ]

  • Nike unchanged at 7,641,000 shares.
    [NKE 66.10 1.68 (+2.61%) ]

  • Norfolk Southern unchanged at 1,933,000 shares. (In an interview with Charlie Rose broadcast on November 13, Buffett said that he had "already sold" his non-BNSF railroad holdings to "faciliate" Berkshire's acquisition of Burlington Northern.)[NSC 51.66 -0.01 (-0.02%) ]

  • Procter & Gamble unchanged at 96,316,010 shares.
    [PG 62.27 0.66 (+1.07%) ]

  • Sanofi Aventis unchanged at 3,903,933 shares.
    [SNY 38.94 0.72 (+1.88%) ]

  • Torchmark unchanged at 2,823,879 shares.
    [TMK 44.15 1.44 (+3.37%) ]

  • US Bancorp unchanged at 69,039,426 shares.
    [USB 23.38 -0.10 (-0.43%) ]

  • USG unchanged at 17,072,192 shares.
    [USG Loading... () ]

  • UnitedHealth Group unchanged at 3,400,000 shares.
    [UNH Loading... () ]

  • Union Pacific unchanged at 9,558,000 shares. (In an interview with Charlie Rose broadcast on November 13, Buffett said that he had "already sold" his non-BNSF railroad holdings to "faciliate" Berkshire's acquisition of Burlington Northern.)[UNP Loading... () ]

  • United Parcel Service unchanged at 1,429,200 shares.
    [UPS 57.74 1.05 (+1.85%) ]

  • Washington Post unchanged at 1,727,765 shares.
    [WPO 433.84 9.33 (+2.2%) ]

  • Wesco Financial unchanged at 5,703,087 shares.
    [WSC 339.95 5.45 (+1.63%) ]


Current Berkshire stock prices:

Berkshire Portfolio

Class A: [BRK.A 103000.00 --- UNCH (0) ]

Class B: [BRK.B 3431.50 20.50 (+0.6%) ]

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