×

Bet Like Buffett; Pro Says Cherry-Pick These 3 Names

Following Warren Buffett into a stock is like following your grandfather into a candy store. It’s tempting to say the least.

As many investors will tell you, cherry-picking Buffett's holdings has improved many a portfolio.

And there may be no time like the present to make your move. Berkshire Hathaway's latest positions were just made public this week in an SEC filing. Take a look:

Warren Buffett’s Top Holdings (a/o Dec 31st )

Coca-Cola
American Express
Wells Fargo
Procter & Gamble
Kraft
Johnson & Johnson
Walmart
Wesco Financial
Conoco Philips
US Bancorp

Source: Stockpickr.com
But like a kid in a candy store you can't have everything - chances are you can't afford everything. With so many temptations, which ones should sample?

Stephen Weiss of Short Hills Capital and author of The Billion Dollar Mistake suggests the following three:

Coke
”Buffett’s top holding is Coke,” explains Stephen Weiss. Although growth has slowed since Buffett bought in, the company is still growing. This stock is reasonably priced and has a nice yield.”

Wells Fargo
”For Buffett Wells Fargo was the only top holding to which he added to his position,” says Weiss. Also we’re hearing other Wall Street whales are adding to their positions in this bank.

ConocoPhilips
”If you believe in the energy complex, Conoco Philips is a great one to own,” says Weiss.

We know what you're thinking. This gives you an idea of what to buy, but a large part of trading is knowing when to sell. No worries.Click here and go to Warren Buffett's Berkshire Hathaway Eliminates Stakes in 8 Stocks.



______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.

Trader disclosure: On Feb 15, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymour owns (BAC); Seymour owns (F); Seymour owns (FXI); Seymour owns (GE); Seymour owns (GM); Seymour owns (INTC); Seymour owns (POT); Adami Owns (AGU) ; Adami Owns (C); Adami Owns (GS);; Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (MDY); Finerman's Firm Is Long S&P Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leap, Finerman Owns (BAC); Finerman's Firm Owns (BBY); Finerman's Firm And Finerman Own (BP); Finerman Owns (C); Finerman Owns (GOOG); Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (IBM); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM); Finerman's Firm Owns (M); Finerman's Firm Owns (MCD); Finerman's Firm And Finerman Own (MSFT); Finerman's Firm Owns (WMT); Jon Najarian owns (NWL) calls; Jon Najarian owns (DELL) calls; Jon Najarian owns (CHS) calls; Jon Najarian owns (AMD), is short (AMD) calls; Jon Najarian owns (BP), is short (BP) calls; Jon Najarian owns (CME), is short (CME) calls; Jon Najarian owns (CBOE), is short (CBOE) calls; Jon Najarian owns (GS), is short (GS) calls; Jon Najarian owns (JNPR), is short (JNPR) calls; Jon Najarian owns (NYX), is short (NYX) calls; Jon Najarian owns (RIMM), is short (RIMM) calls; Jon Najarian owns (WMT), is short (WMT) calls; Jon Najarian owns (X), is short (X) calls; Weiss owns (QCOM); Weiss owns (VZ); Weiss owns (SMCI); Weiss owns (CSCO); Weiss owns (MSFT); Weiss owns (AGU); Weiss owns (IPI); Weiss owns (JPM); Weiss owns (FAS); Weiss owns (UUP); Weiss owns (MEE); Weiss owns (BTU); Weiss owns (CNX); Weiss owns (DVN); Weiss owns (COP); Weiss owns (HBAN)

Comcast is the parent company of CNBC
Comcast is the parent company of NBCUniversal
GE owns 49% of NBCUniversal
GE owns 49% of CNBC

For Sal Arnuk
Arnuk has no disclosures

For Aldo Mazzaferro
Mazzaferro has no disclosures

For Scott Nations
Nations is long (SPY)

CNBC.com with wires.