Despite his perpetual negative view towards banks, Berkshire Hathaway’s Warren Buffett held the stocks of Wells Fargo & Company for a good part of the past 20 years.
Even Buffett could not refuse a well-run commodity-type of service provider. Now Berkshire owns 342,623,925 shares of the bank’s stock, as of 12/31/2010, which accounts for 20.2% of its $52.56 billion portfolio.
There must be something positive going on with Wells Fargo as many other of our time’s greatest investors bought the stock during the fourth quarter of 2009.
Among them:
George Soros owns 568,800 shares as of 12/31/2010, an increase of 1169.64% from the previous quarter. This position now accounts for 0.23% of the $7.69 billion portfolio of Soros Fund Management LLC. Soros’s fund never concentrates on one stock. A 0.23% weight is a large position.
John Paulson owns 20,500,000 shares as of 12/31/2010, an increase of 32.26% from the previous quarter. This position accounts for 2.17% of the $29.27 billion portfolio of Paulson & Co.. Paulson has made a 180 degree turn, instead of betting against the real estate and financials, he is now a big advocate of economic recovery.
David Tepper owns 7,460,100 shares as of 12/31/2010, an increase of 16.37% from the previous quarter. Back in September, Tepper told CNBC that he did not think financials were particularly inexpensive. Well, perhaps Wells Fargo is an exception.
First Eagle Investment Management, for which legendary Jean-Marie Eveillard now serve as a advisor, bought 6,312,213 shares in the quarter that ended on 12/31/2010, which is 1.08% of the $18.08 billion portfolio.
But not everyone is a big believer of continuing to hold on Wells Fargo stocks. Whitney Tilson, for example, sold out his holdings during the quarter.
You can get all this facts at GuruFocus.com here.
Even Buffett could not refuse a well-run commodity-type of service provider. Now Berkshire owns 342,623,925 shares of the bank’s stock, as of 12/31/2010, which accounts for 20.2% of its $52.56 billion portfolio.
There must be something positive going on with Wells Fargo as many other of our time’s greatest investors bought the stock during the fourth quarter of 2009.
Among them:
George Soros owns 568,800 shares as of 12/31/2010, an increase of 1169.64% from the previous quarter. This position now accounts for 0.23% of the $7.69 billion portfolio of Soros Fund Management LLC. Soros’s fund never concentrates on one stock. A 0.23% weight is a large position.
John Paulson owns 20,500,000 shares as of 12/31/2010, an increase of 32.26% from the previous quarter. This position accounts for 2.17% of the $29.27 billion portfolio of Paulson & Co.. Paulson has made a 180 degree turn, instead of betting against the real estate and financials, he is now a big advocate of economic recovery.
David Tepper owns 7,460,100 shares as of 12/31/2010, an increase of 16.37% from the previous quarter. Back in September, Tepper told CNBC that he did not think financials were particularly inexpensive. Well, perhaps Wells Fargo is an exception.
First Eagle Investment Management, for which legendary Jean-Marie Eveillard now serve as a advisor, bought 6,312,213 shares in the quarter that ended on 12/31/2010, which is 1.08% of the $18.08 billion portfolio.
But not everyone is a big believer of continuing to hold on Wells Fargo stocks. Whitney Tilson, for example, sold out his holdings during the quarter.
You can get all this facts at GuruFocus.com here.
