Berkshire 13-F

[Parsad]

Not alot of changes.  Did add a little more WFC.  Cheers!

 

http://www.sec.gov/Archives/edgar/data/1067983/000095012310105654/v57789ce13fvhr.txt

[Parsad]

Well, actually a few more changes than I might have mentioned!  ;D  Cheers!

 

http://uk.reuters.com/article/idUKN1527533220101115

[treasurehunt]

There is a more comprehensive list of changes at the Warren Buffett Watch page on cnbc: http://www.cnbc.com/id/40198762

 

Mostly a bunch of small sales and additions to WFC and JNJ. Buffett bought 16.32 million shares of WFC in Q3. According to the 10-Q, his cost basis in WFC went up by $462 million, implying that he paid about $28.31 per share. Hey, we can buy WFC for cheaper right now!  :)

[coc]

I would guess the liquidation of GEICO's equity portfolio is a "cleaning the slate for the next guy" type of move as Lou bows out...

[Rabbitisrich]

I sold KMX at $29, so I am a bit biased against current shareholders, but the current price accounts for the wonderful strengths of the company. Simpson might simply be clearing out the less obviously undervalued stocks.

[ExpectedValue]

The BK position is really interesting I think.

 

I don't consider them to be a great business but at the same time, it seems like these fee-based financials are going to be in high demand going forward.

 

With the interchange charge that is hitting most banks, they are losing some crucial fee income. Plus you have issues with the consumer protection agency and loan supply/demand might not be so great either... So banks that have a ton of non-interest income should do well going forward IMO.

 

I would definitely spend some time watching the shares of trust banks, I feel like the bigger players might look to them as acquisition targets in order to diversify their income streams.

[alpha231616967560]

The folks from Longleaf talked about BNY Mellon in the last OID, and even Tweedy Browne bought some in Q3. I especially like their global custody business - it is a cash cow with a substantial moat, and require almost zero capital input. They had a crap year last year and that put the stock on sale, which is a classic Buffett purchase. They are also an industry leader trading at 12.5 earnings.