24, 2010 11:14 AM
Download all the letters here
Omaha, NE – Warren Buffett’s annual letter and the Berkshire Hathaway annual report will be posted on the company website Saturday morning. The letter and report precede the annual shareholders meeting at the Qwest Center the first weekend in May.
Buffett is expected to write about the recent acquisition of BNSF Railroad and his views of the economy and recovery.
The shareholder letter remains one of the best-read and most-quoted business documents every year.
In documents filed with the Securities and Exchange Commission today, Berkshire Hathaway reported reduced holdings in Johnson & Johnson, Procter & Gamble, ConocoPhillips and Exxon Mobil Corp. during the last three months of 2009.
Berkshire added to its stakes in Iron Mountain Inc., Becton Dickinson & Co., Republic Services Inc. and Wells Fargo.
The filing also indicates Berkshire has received permission from the SEC to omit some information to protect its trading strategy. Berkshire says the information could hurt its trading strategy because the market likes to follow what the “Oracle of Omaha’s” company does.
Highlights of the SEC filing:
After buying more than 8 million shares of Johnson & Johnson during the first half of 2009, Berkshire sold off 9.8 million shares in the fourth quarter. At the end of the year, Berkshire held 27.1 million shares of J & J.
Berkshire sold off 8.8 million shares of consumer products giant Procter & Gamble during the fourth quarter, leaving Buffett’s company with 87.5 million shares.
Berkshire held 37.7 million shares of ConocoPhillips on Dec. 31 after selling 19.7 million shares.
Berkshire more than doubled its stake in Iron Mountain to 7 million shares of the data-and document-storage company.
Berkshire increased its stake in Becton Dickinson to 1.5 million shares. The company makes medical devices and lab equipment.
Berkshire reports 342.2 million Wells Fargo shares, giving it control of 6.7 percent of the
bank. That’s up from the 312.4 million Wells Fargo shares Berkshire held a year ago.
The filings do not differentiate between investments Berkshire makes, investments any of nearly 80 subsidiaries make, or investments Buffett himself makes.
The 2009 letter will be available at EWB as soon as it becomes available.
Here for the first time are the complete list of Warren Buffett’s Berkshire Hathaway letters to shareholders for download 1977 – 2009.
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