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Warren Buffett Resumes Burlington Northern Stock Buys, Adding to Stake Every Day This Week
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Warren Buffett's Berkshire Hathaway is once again adding to its stake in Burlington Northern Santa Fe after taking a break for the last few months.
A filing with the SEC minutes ago reveals purchases of Burlington stock today, yesterday and Tuesday. Earlier today, Berkshire disclosed a small purchase on Monday. So, every day of the week so far, Buffett has bought some Burlington.
They are the first disclosed purchases since a string of buys that began last spring and ended in October.
The largest purchase came yesterday (Wednesday): 435,700 shares at $77.12 each. That's also the lowest price of the three most recent buys, but above Monday's $76.55. Many of last year's disclosed purchases were in the neighborhood of $80 a share.
Berkshire Hathaway's Burlington Northern Buys This Week |
| Date | Shares Acquired | Price/Share | Total Price |
| Monday, January 7 | 29,600 | $76.55 | $2,265,880 |
| Tuesday, January 8 | 240,000 | $77.89 | $18,693,600 |
| Wednesday, January 9 | 435,700 | $77.12 | $33,601,184 |
| Thursday, January 10 | 46,100 | $77.78 | $3,585,658 |
| TOTAL | 751,400 | $58,146,322 |
The stock had been trading in the low to mid-80s since last September, until they tumbled 3.6 percent on January 4, taking the stock into the high-70s. That lower price appears to have prompted Buffett to add to his stake.
As Buffett told our Becky Quick last month, "If they reduce the price of hamburgers at McDonald's today I feel terrific. Now I don't go back and think, gee, I paid a little more yesterday. I think I'm going to be buying them cheaper today."
Current price: [BNI
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In total, Berkshire paid just over $58 million for about 750,000 shares over the past four days, bringing its stake up to 61,580,218 shares. That's just under 17.6 percent of Burlington's outstanding shares.
Buffett also bought substantial stakes in Norfolk Southern and Union Pacific, but filings indicate he was selling most of those shares last year as he was buying Burlington. That's an indication he's a fan of Burlington, and doesn't necessarily like the entire freight railroad sector.
Berkshire Hathaway's Railroad Stakes |
| As of .. | March 31, 2007 | Sept. 30, 2007 | Pct. Change |
| Norfolk Southern | 6,362,800 | 1,933,000 | - 69.6% |
| Union Pacific | 10,513,100 | 4,453,000 | - 57.6% |
| For comparison ... | |||
| Burlington Northern | 34,647,376 | 52,981,000 | + 52.9% |
Since September, of course, we know that Berkshire has increased its Burlington holdings to over 61 million shares. We'll probably get the next look at the size of its Norfolk and Union Pacific stakes when Berkshire releases its portfolio holdings as of the end of December. That filing should come next month.
- Warren Buffett Edges Burlington Northern Stake Higher in First Buy Since October (January 10)
- Warren Buffett Was Selling Two Railroads As He Bought a Third (October 15)
- Warren Buffett's Burlington Northern Stake Tops 17% as Berkshire Hathaway Exercises Options (October 5)
- Berkshire Hathaway Buys a Few More Burlington Northern Shares (September 24)
- Warren Buffett's Berkshire Hathaway Adds to Burlington Northern Options (September 20)
- Why Warren Buffett Is Riding the Rails (Sept. 7)
- Warren Buffett's Berkshire Hathaway Moves to Boost Burlington Stake Yet Again (Sept. 4)
- Warren Buffett's Berkshire Hathaway Buys Burlington For Fourth Time This Month (August 30)
- Burlington Northern: Just What's Warren Up To? (August 28)
- Warren Buffett's Berkshire Hathaway Still Riding the Rails with $800 Million Stock Buy (August 27)
- Rail Stocks Rally After Another Warren Buffett Buy (August 20)
- Warren Buffett Boosts Burlington Northern Stake .. Again (August 17)
- Buffett Boosts Bet on Burlington (August 8)
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Data is a real-time snapshot *Data is delayed at least 15 minutes
