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Buffett's Berkshire Buys Banks (Update)

Stock quotes in this article: BRK-A , USB , WFC , JNJ , BNI , CEG , COP , KMX  

Updated from 6:15 p.m., May 15

Warren Buffett's Berkshire Hathaway(BRK.A Quote) bought banks -- the relatively liquid ones, that is -- and sold energy in the first quarter.

According to its 13-K filing with the Securities and Exchange Commission, the company added substantially to common-share stakes in US Bancorp(USB Quote), Wells Fargo(WFC Quote), Johnson & Johnson(JNJ Quote) and Burlington Northern(BNI Quote) and sharply cut back on holdings of Constellation Energy(CEG Quote), ConocoPhillips(COP Quote) and Carmax(KMX Quote).

       
Buffett and His Holdings

The market value of Berkshire's stock portfolios fell 21% to $40.87 billion as of March 31, according to the filing. ...

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