The equity portfolio is now made up of over 40% financials and 38% consumer goods. Top five holdings are:
- Coca-Cola (KO) = 21.6% of the portfolio
- Wells Fargo (WFC) = 19.6%
- American Express (AXP) = 12.3%
- Procter and Gamble (PG) = 9.6%
- Kraft (KFT) = 6.3%
Here is a summary of changes made to the portfolio this past quarter:
Sold completely out of positions in Wellpoint (WLP), United Health (UNH), Suntrust (STI), and Travellers (TRV).
Also reduced exposure to the following:
Other reductions include KMX, GCI, MCO, COST, MTB but the overall portfolio impact was not significant. None of these smaller individual changes represented more than .15% of the equity portfolio's value.
The reduction to his Kraft shares was the largest change this quarter (sold ~$ 900 million of what was a ~$ 4 billion position) and likely a reflection of not being too impressed with the purchase of Cadbury or the sale of the pizza business. Yet it remains a top five holding. Some of the other equities that were sold last quarter may reflect a desire to raise some cash after the Burlington Northern purchase.
Finally, Buffett bought some additional shares in the following:
None of these 3 purchases was more than .15% of the equity portfolio's value so each of these additions were relatively small adjustments.
So the moves in Kraft and to a lesser extent Procter & Gamble were the largest one's made quarter. Still, neither change was significant in the context of the entire equity portfolio.
Adam
Long positions in BRKb, KO, WFC, AXP, PG, KFT, COP, JNJ, and MCO.
This site does not provide investing recommendations as that comes down to individual circumstances. Instead, it is for generalized informational, educational, and entertainment purposes. Visitors should always do their own research and consult, as needed, with a financial adviser that's familiar with the individual circumstances before making any investment decisions. Bottom line: The opinions found here should never be considered specific individualized investment advice and never a recommendation to buy or sell anything.
