During 2011, Todd Combs’ portfolio of seven stocks outperformed the S&P 500. Six of the seven stocks purchased by Todd Combs during the first nine months of 2011 finished the year higher than his purchase price, with an average gain of 15%. By contrast, the S&P 500 was virtually unchanged in 2011. This was Todd Combs’ first year at Berkshire Hathaway. Data are not yet available on any additions that were made to his portfolio during the fourth quarter of 2011.
Todd Combs’ best performing stocks in 2011 were Mastercard (+40%) and Dollar General (+20%). His other winners were CVS Caremark (+14%), Intel (+15%), Visa (+18%), and General Dynamics (+6%). His only declining stock was DirecTV (-6%).
It is worthwhile noting that DirecTV has also been one of Ted Weschler’s largest holdings in his Peninsula Capital hedge fund over the past two years. Ted Weschler will be joining Berkshire Hathaway early in 2012 as Warren Buffett’s second portfolio manager, in addition to Todd Combs.
I was interviewed on Bloomberg TV today where I discussed this topic. The link to that interview is:
I was also quoted in a Bloomberg News article today on Todd Combs: