OMAHA, Neb. (
) -- Berkshire Hathaway has revealed in a regulatory filing
the stocks that Warren Buffett was busy buying and selling in the final quarter of 2009.
Buffett losers included
Johnson & Johnson
Procter & Gamble
was a big winner in the Berkshire portfolio sweepstakes, with Buffett more than doubling his holding in the information protection and storage services stock from 3.3 million shares in the third quarter to 7 million shares at the end of 2009.
Buffett believes solid-waste stock
is anything but garbage, as it was among the biggest quarterly winners in the Berkshire portfolio sweepstakes, with Berkshire raising its stake in Republic from 3.6 million shares to close to 8.3 million shares.
Both Iron Mountain and Republic finished trading on Tuesday up between 3% and 4%. Iron Mountain and Republic were both trading up in the pre-market session on Wednesday also.
Among the underperforming stocks, Berkshire sold 2 million shares of Ingersoll-Rand, or a little more than 25% of its stake in the company. Buffett sold one million shares each in CarMax and Gannett, though it was a more sizable move out of Gannett, as Berkshire only owned a little over 3 million shares of Gannett in the third quarter, while Berkshire still owns 8 million shares of CarMax.
Ingersoll-Rand was up slightly in Wednesday's pre-market to $32.05, though its recent quarterly earnings were a disappointment to the street. CarMax was down slightly early on Wednesday morning to $21.12, slightly below its closing price on Tuesday. Gannett was also down slightly from Tuesday's closing price, to $14.74.
Buffett may have been executing on some well-timed exits in the fourth quarter, given the 52-week highs and lows in these three stocks. Gannett's 52-week low was $1.85; Ingersoll-Rand had traded as low as $11.46; and Carmax had been as low as $8 in the past 52-week period.
Berkshire Hathaway also sold more than 10 million shares of Johnson & Johnson. Johnson & Johnson has been trading near its 52-week high in the past two months, so the fourth quarter may have been profit booking time for Buffett's holding in the drug stock. Johnson and Johnson was unchanged on Wednesday in the pre-market, trading at Tuesday's closing price of $63.61. Its 52-week high is $65.95.
Some of the stocks that Buffett had already begun selling in the third quarter continued to be Berkshire dogs in the fourth quarter 2009, including
. Buffett sold 7 million shares of Moody's and 20 million shares of ConocoPhillips, or a little more than one-third of the shares Berkshire had owned in ConocoPhillips. The continued selling of Moody's shares represented about one-fifth of Berkshire's previous level of shares held in the rating agency.
ConocoPhillips and Moody's were virtually unchanged on Wednesday morning in the pre-market, trading at $49.94 and $27.24 respectively.
ConocoPhillips was not the only energy stock not in favor with Buffett in the fourth quarter 2009, as Berkshire 854,000 share stake in
disappeared from the quarterly holdings filing.
Typically, a removal from the quarterly filing like the removal of Exxon means that the entire stake was sold, or is actively being traded at the time of the filing, which allows an investment manager to file a separate confidential notice with the SEC about the stock position. Could someone in Omaha be unhappy about the price Exxon is paying for the acquisition of
, which Buffett had started a position in earlier in 2009, did not receive a further buy from Berkshire.
In health care, Buffett was a seller, shedding
and its peer
, selling more than 2 million shares of each managed care stock.
Wellpoint was down slightly in the pre-market on Wednesday to $58.19, while UnitedHealth was a few cents above its Tuesday closing price, at $31.71.
Buffett voiced his displeasure about
( KFT) acquisition of
( CBY) during the fourth quarter, but did not take out his anger on Kraft shares, with the same level of shares held at the end of the year as at the end of the third quarter.
Kraft closed at $28.97 on Tuesday, and was slightly below that price during the pre-market on Wednesday, at $28.85.
also saw continued buying in the fourth quarter from Berkshire. Buffett had said on television recently that he doesn't think Wells Fargo will ever disappoint on revenues, and Buffett put his money where his mouth was, buying 7 million additional shares of Wells Fargo, while increasing his Wal-Mart holding by a little more than 1 million shares.
Wal-Mart and Wells Fargo were both trading up in the pre-market on Wednesday, at $53.62 and $27.60 respectively.
Concurrent with Berkshire's acquisition of
( BNI), Buffett also sold his stakes in
in the fourth quarter.
-- Reported by Eric Rosenbaum in New York.
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