Buffett Keeps Dumping Moody's (BRK-B, MCO)

Banking, finance, and taxes

Published: September 14, 2010 7:16 pm

Last Updated: April 27, 2020 6:12 pm

If there is a single stock that really no longer deserves nor needs to be kept in the Warren Buffett stock portfolio of Berkshire Hathaway Inc. (NYSE: BRK-B), it is Moody’s Corp. (NYSE: MCO). We have outlined over and over how and why that position needs to be kicked out because the “hold forever” theory is no longer attractive for Moody’s as a business. Buffett has decided to keep lightening up in a SEC filing released this evening showing that roughly 1.4 million shares of the company were dumped. Here are the Buffet sales:

SOLD 607,850 shares at $25.1006 VWAP on SEPT. 10
SOLD 252,700 shares at $25.22 VWAP on SEPT. 13
SOLD 490,000 shares at $25.193 VWAP on SEPT. 14

Buffett’s Berkshire Hathaway still holds 29,433,326 shares of common stock. Berkshire Hathaway is still the largest shareholder of Moody’s ahead of Fidelity, Davis Selected Advisers, Capital Research Global, and Capital World Investors

That’s 1.4 million more shares down, 29.433 million shares to go….Buffett just debunked the myth of a double-dip recession and as always you can fund the full Buffett stock holdings here.

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JON C. OGG

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