Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Berkshire portfolio down 25%

Financial meltdown hurts Warren Buffett's holding company in the fourth quarter.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Ben Rooney, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- Berkshire Hathaway Inc., the holding company run by legendary investor Warren Buffett, saw its overall investment portfolio shrink by 25% in the fourth quarter, according to regulatory forms filed Tuesday with the Securities and Exchange Commission.

In the the three months ended Dec. 31, the Omaha, Neb.-based company's overall holdings decreased to $51.87 billion from $69.89 billion at the end of September.

The bulk of the paper losses were tied to Berkshire's investments in financial services sector, which has been battered by the credit crisis and volatile markets.

Berkshire's stake in Bank of America (BAC, Fortune 500), for example, had a market value of $70.4 million as of Dec. 31, down from $175 million at the end of September, according to the regulatory forms. The value of its holdings in Wells Fargo & Co. (WFC, Fortune 500) and Atlanta-based Sun Trusts Banks Inc (STI, Fortune 500) also decreased.

Despite the turmoil in the financial sector, however, Berkshire maintained its position of 48 million shares in ratings agency Moodys. (MCO)

Meanwhile, Berkshire took a new position worth more than $100 million as of Dec. 31, in water treatment company Nalco Holding Co. (NLC), according to the SEC forms.

Berkshire acquired 19 million shares of Constellation Energy Group (CEG, Fortune 500), and sold roughly 4 million shares of energy giant ConocoPhillips (COP, Fortune 500). It increased its stake in NRG Energy Inc. (NRG, Fortune 500), a diversified electricity producer.

Berkshire's (BRK.A) class A stock closed $4,140 lower at $84,000 a share on the New York Stock Exchange Tuesday.

-- An earlier version of this story incorrectly reported that Berkshire Hathaway sold shares of ratings agency Moody's. CNNMoney.com regrets the error.  To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
14 last-minute tech gifts under $100 From wireless headphones and smart speakers to game consoles and unlimited movie tickets, here are the best bets under $100. More
8 cool things cars of the future will do The coolest features that tease the future of driving, from windshield projections to never needing to park again. More
The best gadget gifts for 2017 A holiday gift guide for anyone who wants to spread some techie joy. More
Sponsors