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Buffett's Secret Stock from Q1 Filing Revealed

June 06, 2012 | About:
Dheeraj Grover

Dheeraj Grover

18 followers
The secret is out.

Warren Buffett's Berkshire Hathaway (BRK.A)(BRK.B) held over 1.6 million shares of Lee Enterprises (LEE), about 3.2 percent of its outstanding shares, as of March 31, according to a filing with SEC late today. On that date the stake was worth $2.1 million. The total market value of the company is around $60 million.

The Lee stake is tiny by Berkshire standards, but it's particularly interesting because Buffett's company had wanted to keep it secret.

In its May 15 filing listing its U.S. stock portfolio as of the end of the first quarter, Berkshire had said some information was being kept confidential. Usually, the SEC grants Berkshire's requests for secrecy, but this time it didn't. Tonight's filing says the request for "confidential treatment" was denied on May 25.

It's a continuation of Buffett's local newspaper play. Lee owns 49 daily newspapers and 300 weekly newspapers. Most of them are in mid-size markets, but it also publishes the St Louis Post Dispatch.

Continue reading here.

Click here for an article written by Jae Jun, a GuruFocus contributor, describing Lee Enterprises business and valuation.

About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

Rating: 3.6/5 (16 votes)

Comments

kfh227
Kfh227 premium member - 2 years ago


The way LEE generates FCF, I wouldn't doubt it if he had intended to accumulate a bunch of shares and then buy it outright for a fair price.

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