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Wall Street Journal Recap of Quarterly Guru Portfolio Moves

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CanadianValue

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Warren Buffett's Berkshire Hathaway (BRKB - News) Inc. took a stake in MasterCard Inc. (NYSE: MA - News) in the first quarter, while Steven Cohen's SAC Capital increased stakes in retail and consumer-services companies, according to a pair of regulatory filings on Monday.

Berkshire Hathaway, one of the world's most closely followed investment vehicles, disclosed it held 216,000 MasterCard shares.

The holding, which comes as a new investment manager took over a chunk of the company's $53.6 billion equity portfolio, is valued at about $60 million based on Monday's closing share price.

Mr. Cohen, whose SAC Capital reported a 9.3% increase in securities holdings in the quarter ended March 31, increased a stake in consumer electronics retailer Best Buy Co. (NYSE: BBY - News) to 2.3 million shares from 53,306 at the end of the previous quarter.

SAC also more than doubled its stake in BJ's Wholesale Club Inc. (NYSE: BJ - News) to 2.8 million shares from 1.1 million.

The disclosures are part of a quarterly filing requirement for investors who manage more than $100 million. The form, known as a 13F, must be filed within 45 days of the end of each quarter and many money managers wait until the last possible moment to submit their filings. The filings give the public its freshest possible glimpse into the portfolios of well-known money managers.

Berkshire said it had omitted some information on its holdings in the filing, an action some investment managers take when they are building a new position. Such "confidential treatment" prevents others from piggy-backing on their investment ideas.

The addition of MasterCard to the portfolio could be the work of Todd Combs, the former hedge-fund manager who was tapped by Mr. Buffett to manage a portfolio of about $2 billion to $3 billion at Berkshire. Mr. Combs, who was selected as the company prepares for the day the 80-year-old Mr. Buffett will no longer run Berkshire, favored financial stocks in his $400 million Castle Point hedge fund.

[More from WSJ.com: Gates Foundation Sells Coke, B Shares of Berkshire]

Berkshire also disclosed a reduced stake in oil producer ConocoPhillips (NYSE: COP - News), trimming the holding less than 1% to about 29 million shares.

SAC also raised its stakes in insurers; Chubb Corp. (NYSE: CB - News) holdings were up to 2.3 million shares from 24,198, while XL Group PLC (NYSE: XL - News) holdings were at 4.4 million shares from 239,564.

Among other filers:

• Hedge-fund manager John Paulson, who made his name betting against subprime mortgages in 2007, turned bullish on gold and bank stocks in recent years, and the latest glimpse into Paulson & Co.'s portfolio suggests his outlook hasn't changed much.

Mr. Paulson reported more than double the previous stake in Barrick Gold Corp. (NYSE: ABX - News) and only minor adjustments to his stakes in AngloGold Ashanti Ltd. (NYSE: AU - News) ADRs and Kinross Gold (NYSE: KGC - News). His holdings in financial stocks include Bank of America, Citigroup and Wells Fargo.

For remainder of article on recent filings:

http://finance.yahoo.com/banking-budgeting/article/112751/buffett-cohen-investors-13F-portfolio-wsj?mod=bb-budgeting&sec=topStories&pos=8&asset=&ccode=

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