Buffet buys $222 million worth GM shares
16 May 2012
Warren Buffett's Berkshire Hathaway has added to its holdings 10 million shares of General Motors, worth about $222 million, at today's price, the CNBC reported yesterday.
Berkshire is not invested in Ford Motor Co or Chrysler, which is majority owned by Fiat SpA.
Quoting Berkshire's just-released 13-F filing with the SEC, the television channel said two new stocks were added to Berkshire Hathaway's portfolio during the first quarter of 2012, and stakes were increased for another seven companies.
It also appears Berkshire was doing even more buying in the first three months of the year that it has not disclosed in this filing. It says that 'confidential information has been omitted ... and filed separately' with the SEC.
The market value of Berkshire's reported holdings totaled $75.3 billion as of 31 March, up from $66.2 billion as of 31 December 2011.
That increase of 13.7 per cent is presumably due to both the addition of new stock and higher prices for some of the shares Berkshire already held.
Berkshire also revealed in a regulatory filing on Tuesday that it bought 8 million shares of Wal-Mart to increase its holding to 46.7 million shares.
Buffet's other major investments include IBM, Viacom, Coca-Cola Co, Intel Corp., Kraft Foods, Dollar General, Procter & Gamble, DirecTV, Liberty Media, DaVita Inc and the Bank of New York Mellon.