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Current DateTime: 01:59:36 25 Nov 2009
LinksList Documentid: 30078629
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Warren Buffett Watch

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Oct.30
5:42 PM ET
Thursday, 30 Oct 2008
Warren Buffett Buys A Few More Burlington Northern Shares .. For A Quick Paper Profit

Warren Buffett's Berkshire Hathaway has added 825,000 more shares to its Burlington Northern Santa Fe [BNI  Loading...      ()   ] stake, bringing its total holdings to 64,610,418 shares.

Berkshire now owns 18.87 percent of Burlington's outstanding shares, up slightly from the 18.63 percent stake it held before the latest purchase.

In a filing with the SEC a few minutes ago, Berkshire says it made its latest purchase two days ago, on October 28, paying $79.65 a share.  That puts the purchase price at just under $66 million.

Burlington hit an intraday low of $77.58 on Tuesday, but closed at $83.45.  Today (Thursday) it finished the regular session at $86.59.

That means the stock is up 3.8 percent close-to-close, and up 8.7 percent from Berkshire's purchase price. 

So, the shares Berkshire bought two days ago for about $66 million are now worth over $71 million, on paper.

But the market value of Berkshire's total stake in Burlington hasn't been doing all that well. 

Berkshire disclosed a series of buys last summer and fall in the vicinity of $80 a share.

The stock fell into the high $70s in January, sparking a string of Berkshire buys.  It then rallied as high as $114.58 in early June, only to fall back to the high $70s again this week.

Over the past year, Burlington Northern shares have gained just 1.4 percent.

Current Berkshire stock prices:

Class A: [US;BRK.A  Loading...      ()   ]

Class B: [US;BRK.B  Loading...      ()   ]

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