Berkshire Hathaway’s 13F filing with the SEC for the fourth quarter of 2010 revealed that Warren Buffett sold the remaining eight stocks that had previously been selected by Lou Simpson. These investments were part of the GEICO portfolio supervised by Lou Simpson until his retirement on December 31. The positions eliminated by Berkshire Hathaway totalled $1.3 billion and were in the following companies: Bank of America, Becton Dickenson, Comcast, Fiserv, Nalco Holding, Lowes Companies, Nestle, and Nike. The only position that Warren Buffett added to in the fourth quarter was Wells Fargo. An additional 6.2 million shares were purchased for about $200 million, representing a 1.8% increase in Berkshire’s stake in the company. Berkshire is currently the largest shareholder of Wells Fargo, owning 7% of its shares.
As of December 31, 2010 the top five holdings by market value of Berkshire Hathaway were:
(1) Coca-Cola ($13.2 billion)
(2) Wells Fargo ($10.6 billion)
(3) American Express ($6.5 billion)
(4) Procter & Gamble ($4.9 billion)
(5) Kraft Foods ($3.3 billion)
I am quoted in the following Bloomberg article (February 14, 2011) on this subject:
Berkshire Divests Stakes in Bank of America, Nike
“Any position that Buffett was uncomfortable holding on his own will have been sold in the fourth quarter” as Simpson left, said David Kass, a professor at the University of Maryland’s Robert H. Smith School of Business.
Berkshire added to its Wells Fargo holding in the fourth quarter.
Last Updated: February 14, 2011 18:19 EST
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