Meanwhile, new positions such as Liberty Media and a rising stake in DirecTV indicate the growing presence of Combs and Weschler. While Buffett has yet to say who will succeed him in running Berkshire Hathaway, he has given unequivocal support to Combs and Weschler in managing the firm's $100 billion stock portfolio.
"We hit the jackpot with these two," Buffett wrote of Combs and Weschler, in Berkshire's 2012 shareholder letter. "In 2012 each outperformed the S&P 500 by double-digit margins. They left me in the dust as well."
"Consequently, we have increased the funds managed by each to almost $5 billion (some of this emanating from the pension funds of our subsidiaries). Todd and Ted are young and will be around to manage Berkshire's massive portfolio long after Charlie and I have left the scene."
In pre-market trading Thursday, CB&I shares were rising over 3% to $59.75.-- Written by Antoine Gara Follow @antoinegara