OMAHA, Neb. (
TheStreet) -- The quarterly portfolio holdings revealed after the market close on Monday from
Warren Buffett and
(BRK.B) show that the big Buffett train slowed down in the second quarter when it came to selling stocks.
In 2009 and earlier this year, to help fund the mega-acquisition of Burlington Northern Santa Fe railroad, Buffett was a big net seller of stocks held in his portfolio. It was notable for Mr. Buy and Hold to be a heavy seller of stocks in recent quarters, but in light of the Burlington Northern deal, the crowd of zealous Warren Buffett watchers downplayed the selling activity. The man who, among other famous sayings, once said that the best holding period for a stock is "forever," was entitled to some portfolio sales given the size of the Burlington Northern deal.
It was back to normal for Mr. Buy and Hold in the second quarter of 2010, which can be described as a period of overall tweaking the Berkshire Hathaway portfolio. There were some notable buys, sells and new additions. Yet most of the buys and sells were on the margins, and there was only one new company making it into the coveted list of public stocks held by Warren Buffett."Things quieted down," said Morningstar analyst Bill Bergman. Buffett was again a net buyer of stocks in the second quarter in marked contrast to the previous two quarters of heavy selling, at least heavy selling by Buffett standards. It wasn't as if Buffett needed to raise cash in the quarter for continuing operations either. The recently released earnings from Berkshire Hathaway showed that outside a big decline in the value of derivatives, the operating companies owned by Berkshire -- which had been a drag on earnings in recent quarters and in the recession -- were recovering. The big derivatives loss in the second quarter of close to $2 billion has to be put in the proper perspective, too. Berkshire Hathaway's derivatives gain in the preceding four quarters was $5.5 billion. As the Oracle has always said, derivatives will go up and down in value quarter to quarter. What follows is a breakdown of the most notable stocks to move up and down in Buffett's estimation in the second quarter. As the Burlington Northern train came into the Omaha station the portfolio activity went from a blaring whistle to a relative tweet, but the tweets were still notable.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV