Wednesday, August 27, 2008

Warren Buffett May Have Quadrupled Berkshire Hathaway’s Position in ConocoPhillips

In the latest filing of Berkshire Hathaway, Warren Buffett’s previous position in ConocoPhillips (COP) did not show up. This makes us Buffett followers wonder what he did to the stock.

The filing said this about ConocoPhillips: "Confidential information has been omitted from the Form 13F and filed separately with the Commission. Included in the confidential filing is information regarding Berkshire Hathaway's position in ConocoPhillips. At March 31, 2008, shares held in ConocoPhillips were included in Berkshire Hathaway's public Form 13F."

Did Buffett buy more COP, or just sold it out?

According to the latest quarterly reports of Berkshire Hathaway, during the first half of 2008, Warren Buffett bought $5.5 billion of stocks, $1.5 billion of that was purchased during the first quarter. Also Warren Buffett sold more than $1.6 billion of stocks during the second quarter.

The sale of $1.6 billion is mostly from the reduction of AnheuserBusch Companies Inc (BUD). Berkshire had about 35 million shares at the first quarter. He sold about two thirds of it, which is worth about 1.3 billion, close to the dollar amount of sale he reported.

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