Warren Buffett's firm reveals investment in pipeline operator Kinder Morgan

OMAHA, Neb. -- Berkshire Hathaway Inc. on Tuesday revealed that it has made a new investment in pipeline operator Kinder Morgan and unloaded its stake in Chicago Bridge & Iron as part of several changes to its stock portfolio.

See Full Article

Warren Buffett's conglomerate filed an update on its U.S. stock holdings at the end of the year with the Securities and Exchange Commission.

It said it owned 26.5 million shares of Houston-based Kinder Morgan Inc. at the end of December. Pipelines are a business Buffett understands well because Berkshire's utility unit owns several natural gas pipeline companies.

Berkshire did not report any shares of Chicago Bridge & Iron Co., which builds energy infrastructure projects. At the end of September, it held 1.98 million shares.

Buffett's remarkably successful track record means that many investors look for ideas to copy in these quarterly filings.

But the combined filing also includes investments made by two other Berkshire executives who manage part of the company's $132 billion stock portfolio.

That means it's not always clear which investments Buffett made himself, but he has said previously that investments smaller than $300 million are likely to be the work of other Berkshire managers.

The Omaha, Nebraska-based conglomerate also made changes to several other investments during the quarter:

  • Buffett's company now holds 22.88 million Deere & Co. shares, up from 17.05 million last fall.
  • It bought more than 9 million Wells Fargo & Co. shares to give it 479.7 million shares of the bank
  • Buffett's company reduced its stake in AT&T Inc. to leave it with 46.6 million shares, down from 59.3 million.
  • Berkshire added to its Liberty Global PLC holdings to give it 9.1 million shares, up from 8.5 million.
  • Berkshire reduced its stake in Wabco Holdings Inc. to 1.69 million shares, from 1.92 million.

Besides investments in companies such as Coca-Cola Co., Wells Fargo & Co. and American Express Co., Berkshire owns about 90 subsidiaries in a variety of industries, including insurance, utilities, railroads, retail and manufacturing.



Advertisements

Latest Economic News

  • Why do you need a pet insurance, right here, right now

    Economic 24news
    Many Canadians would consider their pets as a part of their immediate, granular, family. Although some professionals think it’s not healthy, that’s the way life is in the twenty first century; There is a steep decline in the birth rate globally, with Japan leading the pack, and pets are filling in the void.
  • NEB sets out dispute resolution process for Trans Mountain pipeline

    Economic CBC News
    The National Energy Board says it has established a process to resolve future permitting issues between the builders of the Trans Mountain pipeline expansion project and provincial and municipal authorities. The NEB says that under the new process, it will take about three to five weeks to reach a decision on future disputes for permits the project is required to get under conditions imposed on the project. Source
  • NAFTA uncertainty could be pausing business investment in Canada: Morneau

    Economic CTV News
    TORONTO -- Bill Morneau says he understands the uncertainty surrounding NAFTA might be causing some companies to hesitate in making investment decisions. The federal finance minister made the comments today when asked about the Bank of Canada's warning this week that elevated uncertainty over the future of the North American Free Trade Agreement would drive down investment in Canada. Source
  • Apple to release software update to resolve iPhone slowdown: CEO Tim Cook

    Economic CBC News
    Apple Inc. will release a software update that will allow users to turn off a feature that slows down iPhones when batteries are low on charge, chief executive Tim Cook told ABC News. Apple will release a test version of its iOS software next month that shows users the health of their batteries and will let them turn off a phone-slowing feature meant to prevent sudden shutdowns in iPhones with older batteries, Cook said in an interview with ABC News on Wednesday. Source
  • Canadian cities reveal how they feel about losing bid for Amazon HQ2

    Economic CTV News
    TORONTO -- Amazon waded through 238 bids that included promises of hefty tax breaks and canoeing to work to narrow down a short list of some 20 candidates, including just one Canadian city -- Toronto. Source
  • Farmers to address Supreme Court in fight against abandoned wells

    Economic CTV News
    TABER, Alta. -- Thousands of farmers in Western Canada have been granted the right to appear before the Supreme Court of Canada to oppose a legal decision they say allows energy companies to walk away from unprofitable wells on their land. Source
  • Ontario man pleads guilty to animal cruelty in deaths of 1,500 pigs

    Economic CTV News
    SIMCOE, Ont. -- Ontario's animal welfare agency says a man has pleaded guilty to animal cruelty in the deaths of more than 1,500 pigs. The Ontario Society for the Prevention of Cruelty to Animals says Ben Stein, of Tavistock, Ont. Source
  • Tim Hortons protests to expand beyond Ontario, 50 rallies planned across Canada

    Economic CTV News
    TORONTO -- Protesters angered by some Ontario Tim Hortons franchisees who slashed workers' benefits and breaks after the province raised its minimum wage plan to spread their rallies to other areas of the country. About 50 demonstrations are planned in cities across the country on Friday, although at least 38 will be based in Ontario, including 18 planned in Toronto. Source
  • Nova Scotia 'seriously considering' banning plastic bags: environment minister

    Economic CTV News
    HALIFAX -- Nova Scotia's environment minister says he's "seriously considering" a province-wide ban on plastic shopping bags, as the province's biggest municipality grapples with China's decision to halt the import of plastic waste. Iain Rankin says all options are on the table to reduce the use of so-called film plastics, including an outright ban or fee on plastic bags. Source
  • WestJet appeals lost bid to scrap harassment lawsuit by former flight attendant

    Economic CTV News
    VANCOUVER - WestJet (TSX:WJA) has filed an appeal after the Supreme Court of British Columbia refused to throw out a proposed class-action lawsuit that accuses the company of fostering a corporate culture that tolerates harassment against female employees. Source