Sunday, 17 November 2013

Berkshire Hathaway: Warren Buffett Q3 2013


Berkshire Hathaway run by Warren Buffett


Once again I have been digging into the filing and have made a summary concerning the American stocks that Berkshire Hathaway has been dealing with during the last quarter.

There were actually two completely new additions to the stock portfolio for Berkshire Hathaway and those were:

Exxon Mobile - The American oil and gas giant. I have previously made a contrarian analysis of the company and it can be found here.

Suncor Energy - Also an oil company but in this case focused on oil sands and are working in Canada, around Alberta, with the extraction of the oil.

There were also some companies were they decreased their involvement of which all can be seen in the list below.


Q3, 2013, Warren Buffett, Berkshire Hathaway

 
Conclusion: Interesting that they are stepping in strongly into the oil and gas business with two new companies. ConocoPhillips got more than halved and only one third of the shares are left of GlaxoSmithKline so by the look of it definitely stepping out. With Davita and General Motors they almost doubled their quantity of shares.

6 comments:

Anonymous said...

Why does Buffet prefer Exxon amongst the oil companies when BP, Chevron, Total (your analysis) all look better pe pb return?

Fredrik von Oberhausen said...

A good question! I honestly do not know.

If someone have a good answer then please post it.

PoomK said...

Look at the number of Exxon's shares: http://financials.morningstar.com/ratios/r.html?t=XOM&region=USA&culture=en-US

They have been buying back shares since some years already. That's probably one of the reasons.

Fredrik von Oberhausen said...

Yeah you are probably correct. Warren likes companies that buy back shares, which is strange since it means that growth has stalled but at the same time the management are clever enough to take the financially best option for the shareholders.

BP also announced a large buyback program which i hope to profit from.

Anonymous said...

I believe Buffet view Exxon as the major oil company with the best leadership in capital allocation. So when the price is fair, he can buy with long term view. Similiar rational as his IBM investment.

Fredrik von Oberhausen said...

Exxon I completely understand that he steps into and also according to my analysis it was pretty much a buy but IBM I find it very hard to get my head around. But it seems as if Warren cares much less about debt then what I do which means that maybe I should soften up my low debt demand and look more on ROE.