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Warren Buffett Watch
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Warren Buffett's stake in Burlington Northern Santa Fe has topped 18 percent after his Berkshire Hathaway holding company bought an additional 1.25 million shares for $96 million over the past three days.
That brings Berkshire's total holdings to 63,775,118 shares, or 18.2% of the freight railroad's outstanding shares.
Even as fears of a possible recession have sparked heavy selling on Wall Street, Berkshire has been steadily adding to its Burlington position. It has made a purchase on each day of the past two weeks, with the exception of Friday, January 11.
According to its latest disclosure to the SEC, Berkshire made its largest single-day purchase in the recent series of buys when it picked up 996,100 shares yesterday (Friday, January 18) for $76.97 each. That's near the bottom of the price range it's been paying recently.
Berkshire Hathaway's Burlington Northern Buys This Month |
| 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 |
| Monday, January 14 | 141,400 | $78.18 | $11,054,652 |
| Tuesday, January 15 | 807,400 | $77.69 | $62,726,906 |
| Wedmesday, January 16 | 44,200 | $76.55 | $3,383,510 |
| Thursday, January 17 | 205,800 | $77.83 | $16,017,414 |
| Friday, January 18 | 996,100 | $76.97 | $76,669,817 |
| TOTAL | 2,946,300 | $77.38 (Weight Avg.) | $227,998,621 |
The Burlington buys appear to be a vote of confidence in the long-term health of the U.S. economy and Burlington's ability to take advantage of the increased rail shipments that would presumably accompany the eventual economic rebound. He's also taking advantage of the lower stock prices prompted by the market's worries about the economy.
Buffett has been saying that while the U.S. is in danger of falling into a recession, and that downturns are inevitable, he believes the U.S. economy will continue its long-term growth trend for many years to come.
As he told our Becky Quick last month:
"It is the nature of capitalism to periodically have recessions. People overshoot. So, it isn't the end of the world. I mean, as a matter of fact, for an investor, you know, it turns out to be the times when you make your best buys."
Current prices:
Burlington Northern [BNI
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Berkshire Hathaway [US;BRK.A
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- Warren Buffett's Burlington Northern Stake Nears 18% As Buying Accelerates (January 16)
- Warren Buffett Resumes Burlington Northern Stock Buys, Adding to Stake Every Day This Week (January 10)
- 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)
Data is a real-time snapshot *Data is delayed at least 15 minutes