Buffett's Berkshire Sells Most of J&J and GE Stakes
According to Berkshire's 13-F filing with the SEC, the company held just over 492-thousand shares of J&J as of September 30. That's a 95 percent reduction from the 10.3 million shares it reported holding as of June 30. The market value of the remaining holdings is just $34 million, down $682 million.
Berkshire's GE stock has been slashed to 588,900 shares. That's down 88 percent from just over five million shares three months earlier. That stake is now worth just under $12 million, down $88.4 million.
Three relatively small holdings were eliminated during the quarter:
20,400 shares worth about $923,000
- Dollar General
3,320,885 shares worth $157 million
- CVS Caremark
,301,916 shares worth $241 million
A few stocks were added to Berkshire's portfolio during the third quarter, but they all appear to have been purchased by one of Berkshire's new portfolio managers, Todd Combs or Ted Weschler. Their buying and selling decisions usually involve hundreds of millions of dollars of stock or less. When the stakes get above $1 billion, it's a sign Buffett himself was involved.
The biggest addition is Deere & CO. with almost 4 million shares worth $337 million.
The filing also shows Berkshire owned 1,248,901 shares of Precision Castparts at the end of the quarter. That stake is currently worth $216 million,
The smallest addition is Wabco Holdings with almost 1.6 million shares worth $92 million.
- General Motors
Up 5,000,000 shares to 15,000,000. ( 50%)
- National Oilwell Varco
Up 1,345,600 shares to 4,186,800. ( 47%)
Up 794,000 shares to 7,607,200. ( 12%)
- Bank of New York Mellon
Up 914,400 shares to 19,633,915 ( 5%)
Up 1,134,9000 shares to 29,555,600 ( 4%)
- Wells Fargo
Up 11,504,300 shares to 422,549,545 ( 3%)
Up 872,500 shares to 67,517,896 ( 1%)
- United Parcel Service
Down 202,500 shares to 59,400 (-77%)
- Lee Enterprises
Down 2,095,102 shares to 1,130,720 (-65%)
- Kraft Foods Inc. (Pre-Spinoff)
Down 28,362,040 shares to 30,464,350 (-48%)
Down 524,200 shares to 1,555,459 (-25%)
- Verisk Analytics
Down 308,437 shares to 1,563,434 (-16%)
Down 4,744,726 shares to 24,123,911 (-16%)
- Procter & Gamble
Down 6,809,125 shares to 52,793,078 (-11%)
- US Bancorp
Down 4,736,112 shares to 61,264,601 (-7%)
The filing shows that Berkshire now owns 400 million shares of Coca-Cola instead of the 200 million listed as of June 30. That increase, however, is the result of a two-for-one stock split during the quarter, and doesn't represent new buying.
The total value of Berkshire's reported U.S. stock portfolio was $75.3 billion as of September 30, up from $74.3 billion at the end of June.
Current Berkshire stock prices:
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