Warren Buffett Reduces H.R. Block, Adds Torchmark Corp, Mutes on Wells Fargo

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Jan 17, 2006
Warren Buffett's Investment Company, Berkshire Hathaway, reveals its holdings in H. R. Block (HRB ) and Torchmark Corp (TMK, Financial) today. As of Sept. 30, 2005, Berkshire owns 18,761,400 shares of H.R. Block (HRB ) and 2,635,879 shares of Torchmark Corp (TMK ), as reported in the amended 13F filings of Berkshire Hathaway. Berkshire's position in H. R. Block was worth about $450 million, and that in Torchmark Corp was worth about $140 million.


Berkshire Hathaway kept its holdings in H.R. Block and Torchmark Corp confidential in its previous filings. It was widely anticipated by Buffett followers that Warren Buffett had sold out both stocks. As a matter of fact, Berkshire's decreased its position in H. R. Block, only slightly. At the end of second quarter (June 30, 2005) Berkshire holds 10,917,400 shares of H. R. Block and 2,376,979 shares of Torchmark Corp. Adjusting for the 2:1 split for H. R. Block stocks on Aug. 23, 2005, Warren Buffett decreased the holdings of H. R. Block by 14% and increased that of Torchmark Corp by 11%.


Over the past 2 years Warren Buffett bought the stocks the beer company Anheuser Busch (BUD, Financial), retail giants Wal-Mart (WMT, Financial) and Home Deport (HD). He also bought shares of Tyco, Lowe's Lexmark International (LXK). He kept his position in Anheuser Busch Cos. (BUD) confidential over the period while he was actively purchasing its shares. After secretly became the biggest shareholder of Anheuser Busch Cos., his position was revealed to public in Nov. 2005.


Berkshire's position in Wells Fargo & Co. (WFC, Financial) is still kept confidential.