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Berkshire Hathaway Buys More Wells Fargo; Sells out Positions in FISV, NLC, LOW, BDX, BAC, CMCSK

gurufocus

gurufocus

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Warren Buffett’s company Warren Buffett just reported its 4th quarter portfolio. The only stock Berkshire bought in the quarter was Wells Fargo. Berkshire sold out most of the smaller positions. So the portfolio is now more Warren Buffett.

Most investors believe that the small positions were owned by Lou Simpson through Geico. After the retirement of Lou Simpson, those positions were eliminated. Now Simpson opened his own shop, it will be interesting to see he will buy these positions back.

Warren Buffett buys Wells Fargo & Co., sells Nike Inc., Fiserv Inc., Nalco Holding Company, Lowes Companies Inc., Becton Dickinson And Co., Bank Of America Corp., Comcast Corp. Special during the 3-months ended 12/31/2010, according to the most recent filings of his investment company, Berkshire Hathaway. As of 12/31/2010, Berkshire Hathaway owns 25 stocks with a total value of $52.6 billion. These are the details of the buys and sells.

This is the portfolio chart of Warren Buffett. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Warren Buffett's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Warren+Buffett

This is the sector weightings of his portfolio:

Financials 41.4%
Consumer Goods 40.7%
Consumer Services 6.1%
Health Care 5.4%
Oil & Gas 3.8%
Industrials 2.5%


These are the top 5 holdings of Warren Buffett

  1. COCACOLA COMPANY (KO) - 200,000,000 shares, 25.03% of the total portfolio.
  2. WELLS FARGO & CO. (WFC) - 342,623,925 shares, 20.2% of the total portfolio. Shares added by 1.85%
  3. AMERICAN EXPRESS COMPANY (AXP) - 151,610,700 shares, 12.38% of the total portfolio.
  4. PROCTER & GAMBLE COMPANY (PG) - 76,766,036 shares, 9.4% of the total portfolio.
  5. KRAFT FOODS INC. (KFT) - 105,214,584 shares, 6.31% of the total portfolio.


Added: Wells Fargo & Co. (WFC)

Warren Buffett added to his holdings in Wells Fargo & Co. by 1.85%. His purchase prices were between $23.58 and $31.31, with an estimated average price of $27.68. The impact to his portfolio due to this purchase was 0.37%. His holdings were 342,623,925 shares as of 12/31/2010.

Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through stores, its Internet site and other distribution channels across North America as well as internationally. Wells Fargo & Co. has a market cap of $177.2 billion; its shares were traded at around $33.76 with a P/E ratio of 14.94 and P/S ratio of 1.9. The dividend yield of Wells Fargo & Co. stocks is 0.59%. Wells Fargo & Co. had an annual average earning growth of 4.9% over the past 10 years.

Sold Out: Nike Inc. (NKE)

Warren Buffett sold out his holdings in Nike Inc.. His sale prices were between $79.88 and $92.3, with an estimated average price of $84.4.

Nike, Inc.'s principal business activity involves the design, development and worldwide marketing of high quality footwear, apparel, equipment, and accessory products. Nike Inc. has a market cap of $41.25 billion; its shares were traded at around $86.21 with a P/E ratio of 20.77 and P/S ratio of 2.17. The dividend yield of Nike Inc. stocks is 1.44%. Nike Inc. had an annual average earning growth of 13.2% over the past 10 years. GuruFocus rated Nike Inc. the business predictability rank of 4.5-star.

Sold Out: Fiserv Inc. (FISV)

Warren Buffett sold out his holdings in Fiserv Inc.. His sale prices were between $53.64 and $60.44, with an estimated average price of $56.41.

Fiserv, Inc., a Fortune five hundred company, provides information management systems and services to the financial and insurance industries. Fiserv Inc. has a market cap of $9.27 billion; its shares were traded at around $62.34 with a P/E ratio of 15.39 and P/S ratio of 2.24. Fiserv Inc. had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Fiserv Inc. the business predictability rank of 3-star.

Sold Out: Nalco Holding Company (NLC)

Warren Buffett sold out his holdings in Nalco Holding Company. His sale prices were between $24.78 and $32.32, with an estimated average price of $29.3.

During the past century, Nalco Holding Company has grown from a fledgling water treatment business to a provider of integrated water treatment and process improvement services, chemicals and equipment programs for industrial and institutional applications. Nalco Holding Company has a market cap of $3.78 billion; its shares were traded at around $27.35 with a P/E ratio of 16.09 and P/S ratio of 0.89. The dividend yield of Nalco Holding Company stocks is 0.51%. Nalco Holding Company had an annual average earning growth of 4.5% over the past 5 years.

Sold Out: Lowes Companies Inc. (LOW)

Warren Buffett sold out his holdings in Lowes Companies Inc.. His sale prices were between $21.05 and $25.68, with an estimated average price of $23.05.

Lowe's Companies Inc. is a retailer of home improvement products in the world, with specific emphasis on retail do-it-yourself and commercial business customers. Lowes Companies Inc. has a market cap of $34.62 billion; its shares were traded at around $25.09 with a P/E ratio of 18.31 and P/S ratio of 0.73. The dividend yield of Lowes Companies Inc. stocks is 1.75%. Lowes Companies Inc. had an annual average earning growth of 11.8% over the past 10 years.

Sold Out: Becton Dickinson And Co. (BDX)

Warren Buffett sold out his holdings in Becton Dickinson And Co.. His sale prices were between $73.67 and $85.32, with an estimated average price of $78.79.

Becton, Dickinson and Co. is engaged principally in the manufacture and sale of a broad line of supplies, devices and systems used by health care professionals, medical research institutions and the general public. Becton Dickinson And Co. has a market cap of $18.39 billion; its shares were traded at around $81.29 with a P/E ratio of 15.88 and P/S ratio of 2.49. The dividend yield of Becton Dickinson And Co. stocks is 2.02%. Becton Dickinson And Co. had an annual average earning growth of 14% over the past 10 years. GuruFocus rated Becton Dickinson And Co. the business predictability rank of 5-star.

Sold Out: Bank Of America Corp. (BAC)

Warren Buffett sold out his holdings in Bank Of America Corp.. His sale prices were between $10.95 and $13.56, with an estimated average price of $12.2.

Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $148.96 billion; its shares were traded at around $14.77 with a P/E ratio of 17.17 and P/S ratio of 1.11. The dividend yield of Bank Of America Corp. stocks is 0.27%.

Sold Out: Comcast Corp. Special (CMCSK)

Warren Buffett sold out his holdings in Comcast Corp. Special. His sale prices were between $16.62 and $20.91, with an estimated average price of $19.16.

Comcast Corporation is principally involved in the development, management and operation of broadband cable networks, and in the provision of electronic commerce and programming content. Comcast Corp. Special has a market cap of $65.34 billion; its shares were traded at around $22.6 with a P/E ratio of 18.08 and P/S ratio of 1.83. The dividend yield of Comcast Corp. Special stocks is 1.67%. Comcast Corp. Special had an annual average earning growth of 8.5% over the past 10 years.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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Comments

superguru
Superguru - 3 years ago
bummer, i was close in that he would not buy anything in US because of rich valuations, he bought a little of WFC. Sad.

And I find it very hard to believe that they would sell out these positions for the sole reason they were Louis Simpson's pick and he is no longer there.

Josh Zachariah
Josh Zachariah premium member - 3 years ago
It was as low as $23.5 or close to its book value of 22.5, there's no way he's going to pass that up
kfh227
Kfh227 premium member - 3 years ago
Regarding Lou Simpson's picks, I think stocks like BAC are stocks that Buffett would never have bought.

I didn't know he had room left to add more WFC. I thought he hit hte 10% limit last quarter. That was an obvious pick.... if i realized it .... for the contest.

As for rich valutions, I agree that this is true for large companies. I am finding a few gems that are smaller companies. Seth Klarman for example had atleast one interesting buy.
gstyle
Gstyle - 3 years ago
I am curious why he sold out on BDX. A few of the guru's have in the last quarter, but many more have bought / added to their positions in the last six months.

BDX is listed as five star in Buffett-Munger screen.

Looking at the financials for the company it still looks strong.

Is it because the company is too heavily reliant on patents? I think I read someone he didn’t like pharmaceutical companies because of this reliance. Although he still holds JNJ and GSK, the latter have been hit with several heavy fine's in the last 6 months.

Thoughts?

rnagarajan
Rnagarajan - 3 years ago
I've published a report on Berkshire's latest portfolio filing. Link:

http://www.rationalwalk.com/?p=11182

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