The Oracle says…
In a regulatory document filed late Tuesday, Warren Buffet’s Berkshire Hathaway said it had significantly increased its exposure to media companies in the fourth quarter. Berkshire added a new position in Liberty Media (LMCA), which has stakes in everything from baseball teams to radio to cable. Berkshire purchase 1.7 million shares which were valued at $132 million at the end of 2011. The company also more than quadrupled its position in DirectTV (DTV), now holding an $870-million position as at year end. The two media companies, along with DaVita (DVA), which Berkshire also bought during the quarter, are favourite holdings of Ted Weschler’s hedge fund, Peninsula Capital Advisors. Weschler is expected to join Berkshire’s portfolio management team this year.
Other companies where Buffet increased his exposure in Q4 included: IBM (IBM), Intel (INTC), Visa (V), General Dynamics (GD), Wells Fargo (WFC) and CVS Caremark (CVS). The filing showed smaller stakes in Kraft (KFT) and Johnson & Johnson (JNJ) and also appeared to show the exit from a position in Exxon Mobil (XOM).
Weschler and Todd Combs help Buffet manage Berkshire’s assets. Each is currently working with abut $3 billion of the company’s $66.2-billion portfolio, gradually managing more funds as time goes on. Once Buffet leaves Berkshire, Combs, Weschler and possibly one other manager will take over the company’s entire stock and debt portfolio.
Berkshire Hathaway (BRK.A : NYSE : US$116910.00), Net Change: -1,565.00, % Change: -1.32%, Volume: 683
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