Buffett Keeps Buying This Stock

August 16, 2012
By Daily Trade Alert

Warren Buffett’s holding company, Berkshire Hathaway, has just released its latest portfolio changes for the quarter ended June 30, 2012.

Here’s a summary of what it bought and sold…

Bought/Issued

  • Bought 3,300,000 shares of Da Vita (DVA)
  • Bought 5,421,100 shares of Directv (DTV)
  • Bought 13,112,049 shares of Bank of New York Mellon (BK)
  • Bought 2,249,696 shares of IBM (IBM)
  • Bought 3,225,822 shares of Lee Enterprises (LEE) — NEW
  • Bought 2,500,000 shares of Liberty Media (LMCA)
  • Bought 2,841,200 shares of National Oilwell Varco (NOV) — NEW
  • Bought/Issued 27,163,918 shares of Phillips 66 (PSX) – NEW*
  • Bought 5,221,530 shares of Viacom (VIAB)
  • Bought 16,710,317 shares of Wells Fargo (WFC)

Selling

  • Sold 1,804,584 shares of CVS Caremark Corp. (CVS)
  • Sold 232,300 shares of ConocoPhillips (COP)
  • Sold 316,279 shares of Dollar General (DG)
  • Sold 2,769,275 shares of General Electric (GE)
  • Sold 7,745,000 shares of Intel (INTC) — SOLD OUT
  • Sold 18,684,999 shares of Johnson & Johnson (JNJ)
  • Sold 19,190,775 shares of Kraft (KFT)
  • Sold 13,651,933 shares of Procter & Gamble (PG)
  • Sold 3,038,613 shares of US Bancorp (USB)
  • Sold 1,167,300 shares of United Parcel Service (UPS)
  • Sold 358,277 shares of Verisk (VRSK)
  • Sold 785,349 shares of Visa (V)
  • Sold 615,600 shares of Ingersoll-Rand (IR)

Curiously, Buffett has dumped the rest of his Intel shares and he continues to sell off his position in Johnson & Johnson.

While we won’t try to guess why Buffett is exiting these positions, we will reaffirm that these stocks are two of what we consider to be “The 10 Best Income Stocks to Own Right Now.”

Also revealing about Buffett’s latest filing is the fact that he continues to load up on shares of Wells Fargo (WFC).

All told, he now owns over 411 million shares valued at $13.9 billion.

In dollar terms, Wells Fargo is now his single largest holding, behind IBM ($13.2 billion), American Express ($8.5 billion) and Coke ($7.8 billion).

For all the details on Buffett’s latest transactions — including access to Berkshire Hathaways’ entire portfolio of U.S.-listed stocks – click here to visit our Buffett Tracker.

Good investing!

Daily Trade Alert

*We estimate that 14,550,468 shares of Phillips 66 were issued to Berkshire Hathaway after the ConocoPhillips spin-off on May 1, 2012. We also estimate that Berkshire purchased an additional 12,613,450 shares of Phillips 66 during the same quarter.

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