|
CNBC'S MOST SHARED
- 'We're in the Middle of a Crash': Black Swan
- The Rising Mountain of Debt May Be the Next Crisis
- SEC May Reinstate Rules for Short-Selling Stocks
- A Goldman Trading Scandal?
- Latvian Banker Taking Souls as Collateral
- Alaska Governor Sarah Palin Will Resign
- The Worst Expected 2010 State Budget Gaps
- Cuddle Parties Heat Up
- Your First Move For Monday July 6th
- A Goldman Trading Scandal?
- Top Videos: From the Black Swan to the Bond King
- Obama Plan Would Trim Back Financial Powerhouses
- Biden: 'We Misread How Bad The Economy Was'
- FedEx Sees Signs of a Turnaround: Report
- Property Tax Appeals Take Toll on Governments
- Chrysler Names Remaining Directors to New Board
- Car Dealer Determined To Fight Chrysler Over Franchise
- 'Ice Age' Heats Up Worldwide Box Office
- Fireworks At Pharma's Market
- Value of Warren Buffett's Annual Gift to Gates Foundation Falls Along With Berkshire's Stock
- Michael Jackson: The Music And The Money
- Five Stock Picks for This Market
- Realities of the New Obama Refis
- Weak Dollar Means Gold at $1,040: Strategist
- Court Ruling Could Mean Trouble for TiVo
- Lance, Please Back Out Of Tour
- TeleMedicine Gets An Apple App Store Facelift
Text Size 
Warren Buffett's Berkshire Hathaway bought 1.62 million shares of Burlington Northern Santa Fe in the past few days, according to a filing late Tuesday with the Securities and Exchange Commission.
The acquisition increases Berkshire's [BRK
Loading...
()
] stake to 40.65 million shares about 11.5% of the Fort Worth, Texas-based railroad.
When Berkshire disclosed in April that it had bought 39.03 million shares of BNSF [BNI
Loading...
()
] stock, the news sent shares of all major freight railroads higher. Buffett said at the time that he had invested in two other North American railroads, but he wouldn't name them.
A May SEC filing revealed that Berkshire owned 10.5 million shares of Union Pacific [UNP
Loading...
()
] and nearly 6.4 million shares of Norfolk Southern [NSC
Loading...
()
] .
The latest BNSF purchases took place between Friday and Tuesday, according to Tuesday's filing.
Buffett and Berkshire Vice Chairman Charlie Munger said in May they had decided to invest in railroads because those businesses have a better competitive position today than in past years. Both Buffett and Munger said they were slow to realize that railroads were a good investment because the industry's past performance had prejudiced them.
The filings do not differentiate between investments Berkshire makes, investments any of its more than 60 subsidiaries makes, or investments Buffett himself makes.
Berkshire owns furniture, insurance, jewelry and candy companies, restaurants, natural gas and corporate jet firms and has major investments in such companies as Coca-Cola [KO
Loading...
()
] and Anheuser-Busch [BUD
Loading...
()
].
Berkshire Hathaway's Class A shares gained $690 to close at $112,690 Tuesday before the filing was released. Its Class B shares gained $22 to close at $3,692.
Burlington Northern's shares gained 57 cents to close at $81.25.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes