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Buffett's Berkshire Boosts Stake ConocoPhillips (COP), Shows New Stake in Eaton (ETN)

November 17, 2008 1:11 PM EST
Warren Buffett's Berkshire Hathaway released its 13F for the quarter ended Sept 30, 2008 after the close on Friday. A 13F is a quarterly statement showing a snap-shot of the stocks owned in a portfolio at the end of the quarter. Below is a summary of Buffett's most notable moves from the filing:

- Raised stake in ConocoPhillips (NYSE: COP) by 24.3 million shares to 83,955,800 shares.
- Showed a new 2.9 million shares in Eaton Corp (NYSE: ETN).
- Raised stake in NRG Energy (NYSE: NRG) by 1.76 million to 5 million shares.
- Lowered stake in Banc of America (NYSE: BAC) by 4.1 million shares to 5 million shares.
- Lowered stake in CarMax (NYSE: KMX) by 2.86 million shares to 18.44 million shares.

Buffett's largest holdings includes Coca-Cola (NYSE: KO) (200M shares), Wells Fargo (NYSE: WFC) (290M shares), Procter & Gamble (NYSE: PG) (105.8M shares), Burlington Northern Santa Fe Corp. (NYSE: BNI) (64.6M shares), ConocoPhillips (NYSE: COP) (84M shares) and Kraft Foods (NYSE: KFT) (138.3M shares).

At the end of September, Buffett bought $5 billion in 10% preferred shares in Goldman Sachs (NYSE: GS). At the beginning of October, Buffet bought $3 billion in 10% preferred shares in GE (NYSE: GE). Neither position was disclosed in the 13F filing.

In October, Warren Buffett wrote an op-ed piece in the New York Times "Buy American, I Am." Buffett said the financial world is a mess and problems are leaking into the general economy and the headlines will continue to be scary, but he said he buying American stocks.

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