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Warren Buffett Watch
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Warren Buffett's Berkshire Hathaway has added a new stake in NRG Energy [NRG
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], according to a just-released portfolio 'snapshot' of its holdings in U.S. publicly-traded stocks as of June 30.
At today's closing price of $35.22, the 3.2 million shares are worth about $113 million. NRG shares are down from a near-term high of about $44 in mid-June, so Buffett may have taken a short-term hit on his new holding in the Texas energy provider.
The Berkshire filing also says that some "confidential information" has been omitted from the portfolio listing, including information regarding Berkshire's position in ConocoPhillips [COP
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]. I assume that means Berkshire is adding to its position in Conoco, listed at 17.5 million shares worth $1.33 billion as of March 31, but there's no way to know for sure.
We also don't know if Conoco is the only stock included in the secret part of Berkshire's filing with the SEC. Buffett oftens gets permission to temporarily hold back information on some holdings to thwart 'copycats.'
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Today's SEC filing does reveal additions to Berkshire's stakes in Sanofi Aventis [SNY
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] and Ingersoll-Rand [IR
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].
Berkshire's stake in Ingersoll soared more than 500 percent, from 937,000 shares on March 31 to 5.6 million shares on June 30. Some of those additional shares may have come from Ingersoll's purchase of Trane on June 5 in which it paid 0.23 of an IR shares plus $36.50 in cash for each Trane share.
The Sanofi stake increased by 8.8 percent, or 317,200 shares to 3.9 million shares.
(The number of Berkshire's Union Pacific [UNP
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] shares doubled from the first quarter due to a 2-for-1 stock split in late May.)
On the other hand, reporting holdings of Anheuser-Busch [BUD
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] fell sharply to 13.8 million shares as of June 30 from 35.6 million at the end of March. That may have been a bet against InBev's then-unsolicited bid to acquire the St. Louis brewer.
InBev initially revealed on June 11 that it was offering $65 a share for Anheuser. The shares soared at that point, even as Anheuser agressively moved to resist a takeover. There was a great deal of sentiment at the time in St. Louis and around the country that such an iconic American brand shouldn't be foreign-owned.
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That calculation would be consistent with selling almost two-thirds of the holdings after the initial InBev bid to 'lock-in' the higher price and get the cash right away. After all, $60-something in the hand is worth $70 in the Busch.
It was only after the end of the second quarter, on July 14, that Anheuser agreed to a friendly merger with InBev at the sweetened price of $70 a share.
Data is a real-time snapshot *Data is delayed at least 15 minutes