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Buffett doubles Wal-Mart stake, dabbles in Exxon, Nestle

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Buffett doubles Wal-Mart stake, dabbles in Exxon, Nestle

17.11.2009
Hot on the heels of billionaire investor Warren Buffett announcing he was sinking cash in the US railroad industry, it has emerged that the so-called ‘Sage of Omaha’ has also bought shares in Wal-Mart, Nestle and Exxon.

According to a filing with the US Securities and Exchange Commission (SEC), Buffett’s conglomerate holding company Berkshire Hathaway has doubled its holdings in US retail giant Wal-Mart to 37.8 million shares.

Buffett also purchased shares in Exxon Mobile to leave his holding at 1.28 million shares. The financier apparently first dabbled in Exxon shares in June of this year.

The SEC filing showed that Buffett bought shares in Nestle for the first time, along with shares in a waste-management firm Republic Services.

Wells Fargo bank also saw a boost in Buffett ownership, with Berkshire buying a further 11 million shares to leave his holding at 313.4 million shares.

The SEC filing revealed that the legendary financier had also cut back his stake in a number of firms including credit-rating agency Moody’s and US energy company ConocoPhillips.

Earlier this month, Buffett announced Berkshire Hathaway was to buy the 77.4pc stake it doesn’t already own in the railway company Burlington Northern Santa Fe for US$26bn in cash and stock.

At the time, Buffett described his investment as “an all-in wager on the economic future of the United States”, adding: “I love these bets.”

 

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