Master Achievement

Warren Buffett’s Berkshire Hathaway increased its Wal-Mart (WMT) holdings by almost 90 percent according to his latest SEC filings.  Buffett now owns $2 billion of Wal-Mart stock.  Buffett also added a small stake in ExxonMobile (XOM) of $95 million as of September 30. 

Other changes include: a small stake in Travelers (TRV) added: 27-thousand shares worth about $1.5 million.   Small stake in the solid waste disposal company Republic Services (RSG) added: 3.6 million shares worth about $96 million.  Wells Fargo (WFC) holdings up 3.6 percent to 313.36 million shares.  ConocoPhillips (COP) stake decreased by roughly 7 million shares during the third quarter.  NRG Energy (NRG) holdings decreased almost 17 percent to 6 million shares.  SunTrust Banks (STI) stake trimmed by just under 4 percent to 3.08 million shares.  Slight decrease in Wellpoint (WLP) holdings to just under 3.4 million shares.  Wabco Holding (WBC) stake of 2.7 million shares was sold.

Wal-Mart is no surprise as Buffett sees more difficulty in the buying power of consumers moving forward due to the credit crisis and inflation.  Consumers are likely to have a decrease in purchasing power and will price shop to make ends meet.  It appears that Buffett is adding more favorite durable businesses such as insurance and waste removal.  He also cleaned up under performing assets such as ConocoPhillips, NRG, Suntrust and Wabco.  Buffett admited in the latest Berkshire Annual report that he missed the ConocoPhillips trade as the price of oil plummeted after he purchased COP shares.