Berkshire Hathaway and Buffett Make Many Portfolio Changes for 2013

Industrials

Published: February 14, 2013 5:22 pm

Last Updated: March 23, 2020 10:21 am

Berkshire Hathaway Inc. (NYSE: BRK-B, BRK-A) and Warren Buffett may have surprised the markets with the $28 billion purchase of H.J. Heinz Company (NYSE: HNZ), but there is another look to consider here. The conglomerate’s most recent U.S.-listed equity holdings have been released and investors will want to know that this is as of December 31, 2012.

Portfolio managers Todd Combs and Ted Weschler are getting even more entrenched as far as their ability to add to positions. The new Buffett holdings are below. American Express Co. (NYSE: AXP) was roughly 151.6 million shares, SAME AS last quarter.

Archer Daniels Midland Co. (NYSE: ADM) was listed as a NEW POSITION of 5.95 million shares worth some $163.1 million as of the end of 2012.

Bank of New York Mellon Corp. (NYSE: BK) appears to be the SAME SIZE at over 19.6 million shares, but that is after gains had been reported in prior quarters.

Coca-Cola Co. (NYSE: KO) was more than 400 million shares due to the stock split of 2012, but this is virtually the SAME AS BEFORE.

ConocoPhillips (NYSE: COP) is the SAME AS BEFORE at 24.1 million shares, but this is lower than in prior quarters.

Costco Wholesale Corp. (NASDAQ: COST) was 4,333,363 shares, SAME AS last quarter.

DaVita Inc. (NYSE: DVA) was already more than a 10% stake, but a new filing shows that Buffett and various entities own a collective 13.6 million shares for a 13.0% stake. This position has grown and grown and is a LARGER STAKE. This stock has risen and risen while Buffett kept adding the position.

Deere & Co. (NYSE: DE) was the SAME AS LAST QUARTER at roughly 4 million shares, but this was previously a new position.

DirecTV (NASDAQ: DTV) is a LARGER POSITION AGAIN at almost 34 million shares versus 29.555 million shares before that and it had grown another quarter before as well.

Gannett Co. (NYSE: GCI) was 1.74 million, SAME AS BEFORE but decreased in prior quarters.

General Dynamics Corp. (NYSE: GD) is the SAME AS BEFORE at 3.877 million shares.

General Electric Corp. (NYSE: GE) is listed as THE SAME 588,900 shares, but this is still way down from the 5.008 million shares and 7.777 million shares the two prior quarter.

General Motors Co. (NYSE: GM) is a LARGER STAKE AGAIN at 25 million shares, up from 15 million shares last quarter and 10 million shares two quarters ago.

GlaxoSmithKline (NYSE: GSK) is the same 1.51 million shares, SAME AS PRIOR QUARTERS.

International Business Machines Corp. (NYSE: IBM) was A LARGER POSITION at over 68.1 million shares for a 6.03% stake, up from 67.5 million shares last quarter and up from prior quarters. This is worth over $13.5 billion now.

Johnson & Johnson (NYSE: JNJ) was a LOWER POSITION AGAIN at only 327,100 shares; this is down substantially from quarters and years earlier.

Kraft Foods Group Inc. (NASDAQ: KRFT) had been lowered in previous quarters and due to the break-up we are going to just give the nominal share count of 1,668,714 shares.

Lee Enterprises Inc. (NYSE: LEE) was ALREADY REDUCED and is down to only 88,863 shares. That is hardly worth mentioning.

Liberty Media Corp. (NASDAQ: LMCA) was SLIGHTLY HIGHER at 5.62 million shares versus 5.5 million shares last quarter.

M&T Bank Corp. (NYSE: MTB) is 5.38+ million shares, SAME AS last quarter.

MasterCard Inc. (NYSE: MA) was 405,000 shares, the SAME AS last quarter.

Media General Inc. (NYSE: MEG) was the SAME POSITION of 4.64 million.

Mondelez International Inc. (NASDAQ: MDLZ) is a new position but this is actually just part of the Kraft break-up. This is in 4 accounts but at a total of 12.84 million shares.

Moody’s Corp. (NYSE: MCO) was 28.4 million; SAME AS last quarter but way down from prior quarters and years.

National Oilwell Varco Inc. (NYSE: NOV) was a LARGER position at about 5.3 million shares versus 4.18 million shares last quarter and versus being a new position of 2.84 million shares two quarters ago.

Phillips 66 (NYSE: PSX) was the SAME AS LAST QUARTER at about 27.1 million shares after having been added in prior quarters after the Conoco spin-off.

Precision Castparts Corp. (NYSE: PCP) was a LARGER STAKE at roughly 2 million shares versus being a new position of 1.25 million shares last quarter.

Procter & Gamble (NYSE: PG) was THE SAME 52.8 million shares but that had been lowered in 2012 from a prior peak of 96.3 million shares.

Sanofi-Aventis (NYSE: SNY) was 4.06 million shares; SAME AS last quarter.

Torchmark Corp. (NYSE: TMK) was more than 4.2 million, SAME AS last quarter.

US Bancorp (NYSE: USB) was the SAME AS BEFORE at 61.2+ million shares but down from prior quarters.

USG Corp. (NYSE: USG) was 17.072 million shares; SAME AS before.

United Parcel Service (NYSE: UPS) was THE SAME 59,400 shares, but this is way down from 2012 and hardly worth the effort.

VeriSign Inc. (NASDAQ: VRSN) is listed as a NEW POSITION of 3.685 million shares which was worth $143 million at the end of the year and likely a new portfolio manager position rather than a Buffett decision.

Verisk Analytics Inc. (NASDAQ: VRSK) was THE SAME AS before at 1,563,434 shares, but that is lower than prior quarters.

Viacom Inc. (NASDAQ: VIA) was the SOME POSITION of 7.6+ million shares, but that had been raised in prior quarters.

Visa Inc. (NYSE: V) was THE SAME POSITION of 1.555 million shares but this is still lower than in 2012.

WABCO Holdings Inc. (NYSE: WBC) is a HIGHER POSITION of just over 4 million shares but that is higher than the prior quarter when it was a new position of about 1.6 million shares. This is now worth closer to $267 million as of the reported date.

Wal-Mart Stores Inc. (NYSE: WMT) was a HIGHER STAKE at 47.5 million shares versus 46.7 million shares last quarter.

Washington Post (NYSE: WPO) was the SAME POSITION at over 1.72 million shares.

Wells Fargo & Co. (NYSE: WFC) was HIGHER YET AGAIN at over 466 million shares for an 8.9% stake. This is up from 420 million shares last quarter and more than 394.3 million shares two quarters ago. Buffett keeps growing this stake and he telegraphed that he had. There is a reason we kept this as the best of “The 7 Safest Banks in America” last year.

While this was not listed as a formal holding of Berkshire Hathaway in the 13G filing, we now know that the merger of H.J. Heinz Company (NYSE: HNZ) is soon going to be a part of the Berkshire Hathaway empire as a preferred holding.

The total equity holdings at the end of 2012 were listed as $75.3 billion and that was more or less the same as the September quarter. We would just note that the markets are higher in 2013 and Berkshire had been outperforming.

Eliminations from the prior quarter reported back in November of 2012 were CVS Caremark Corp. (NYSE: CVS), Dollar General Corp. (NYSE: DG), and Ingersoll-Rand (NYSE: IR).

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