Buffett's Berkshire Slashes Stake in Johnson & Johnson (JNJ), Picks Up More NRG Energy (NRG)
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Warren Buffett's Berkshire Hathaway (NYSE: BRK.a) released its 13F for the quarter ended December 31, 2008 after the close. One of the most notable moves was cutting his stake in Johnson & Johnson (NYSE: JNJ) in half. JNJ has been a top performer, so he likely thinks the run is over. Buffett also cut his stakes in Procter & Gamble (NYSE: PG) and US Bancorp (NYSE: USB), among others. On the buy side, Buffett boosted his stakes in Ingersoll-Rand Co. Ltd. (NYSE: IR) and NRG Energy (NYSE: NRG) and showed a new stake in Nalco Holding (NYSE: NLC).
Below is a summary of Buffett's moves:
- Raised stake in Burlington Northern (NYSE: BNI) (already known through Form 4, Holds 76.8M shares)
- Raised stake in Eaton (NYSE: ETN) about 300K shares to 3.2M shares
- Raised stake in Ingersoll-Rand Co. Ltd. (NYSE: IR) 2.15M shares to 7.8M shares
- Raised stake in NRG Energy (NYSE: NRG) 2.2M shares to 7.2M shares
- New 8.7M share stake in Nalco Holding (NYSE: NLC)
- New 19.9M share stake in Constellation Energy (NYSE: CEG) (note Buffett's MidAmerican tried to buy the co.)
- Slashes Johnson & Johnson (NYSE: JNJ) 33.1M shares to 28.6M shares
- Trimmed stake in Procter & Gamble (NYSE: PG) 9.5M shares to 96.3M shares
- Trimmed stake in US Bancorp (NYSE: USB) 5.4M shares to 67.6M shares
- Trimmed stake in Carmax Inc. (NYSE: KMX) about 800K shares to 17.6M shares
- Trimmed stake in ConocoPhillips (NYSE: COP) about 4M shares to 79.9M shares
- Trimmed stake in United Health (NYSE: UNH) about 80K shares to 6.3M shares
- Trimmed stake in Wells Fargo (NYSE: WFC) about 163K shares to 290.2M shares
American Express (NYSE: AXP), Bank of America (NYSE: BAC), Coca Cola (NYSE: KO), Comcast (Nasdaq: CMCSA), Comdisco Holding (OTCBB: CDCO), Costco Wholesale (Nasdaq: COST), Gannett Co., Inc. (NYSE: GCI), General Electric (NYSE: GE), GlaxoSmithKline (NYSE: GSK), Home Depot (NYSE: HD), Iron Mountain Inc. (NYSE: IRM), Kraft Foods (NYSE: KFT), Lowe's Companies Inc. (NYSE: LOW), M&T Bank Corp. (NYSE: MTB), Moody's (NYSE: MCO), Nike Inc. (NYSE: NKE), Norfolk Southern (NYSE: NSC), Sanofi Aventis (NYSE: SNY), SunTrust Banks, Inc. (NYSE: STI), Torchmark Corp (NYSE: TMK), USG Corporation (NYSE: USG), Union Pacific (NYSE: UNP), United Parcel Service (NYSE: UPS), WABCO Holdings Inc. (NYSE: WBC), Wal-Mart (NYSE: WMT), Washington Post (NYSE: WPO), Wellpoint Inc. (NYSE: WLP), Wesco Financial Corp. (NYSE: WSC).
You can track more of Buffett's moves here
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