Berkshire Hathaway cuts holdings in Anheuser-Busch; takes stake in NRG Energy

8/15/2008 3:48 AM ET

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(RTTNews) - Billionaire investor Warren Buffett's Berkshire Hathaway Inc. (BRK-A, BRK-B) announced changes in its investments in US stocks, which totaled $57.88 billion at the end of the second quarter, lower than $66.46 billion of investments as of March 31. In a filing with the US Securities and Exchange Commission on Thursday, Berkshire announced new holdings in Princeton, New Jersey-based power generator NRG Energy Inc. (NRG: News, Chart, Quote ), while the company reduced its Anheuser-Busch Cos. Inc. (BUD: News, Chart, Quote ) stock sharply and eliminated Trane Inc. holdings.

Berkshire, the Omaha, Nebraska-based investment manager, reported that it has acquired 3.24 million shares in NRG Energy with a market value of $138.91 million as of June 30.

Meanwhile, Berkshire reduced its stake in Anheuser Busch to 13.85 million shares in June end, with a market value of $860.05 million, from 35.56 million shares it held in March 31, with a market value of $1.69 billion. Anheuser Busch in early June had received a takeover offer from Belgian brewer InBev SA for $65 a share, and the companies in mid July agreed to combine for $70 per share in cash, with an aggregate equity value of $52 billion. Anheuser Busch share price was $61.78 on June 30, higher than $46.89 on March 31.

Further, Berkshire sold its 10.90 million shares in Trane Inc., which had a value of $500.40 million as of March 31.

According to reports, SEC allowed Berkshire to conceal the status of its investment in ConocoPhillips (COP: News, Chart, Quote ) during the quarter. As of March 31, the company held 17.51 million shares in ConocoPhillips, with a market value of $1.33 billion.

Berkshire's stake in French drug maker Sanofi Aventis (SNY: News, Chart, Quote ) was 3.90 million at the quarter end, up 317,200 shares from March closing. Also, Berkshire increased its stake in Union Pacific Corp. (UNP: News, Chart, Quote ) to 8.91 million shares from 4.45 million shares in March end, as a result of the stock split conducted in May.

The company added 5 million shares of Ingersoll-Rand Co. Ltd. (IR: News, Chart, Quote ) to its investments, with a value of $187.15 million as of June 30.

The market value of Berkshire's holdings in American Express Co. (AXP: News, Chart, Quote ) was reduced to $5.71 billion at the June end from $6.63 billion at the March end. Meanwhile, the value of its stake in Coca Cola Co. (KO: News, Chart, Quote ) increased.

BRK-A closed Thursday's regular trading session at $116,200, up $1,760.00 or 1.54%. BRK-B settled at $3,893 on Thursday, up $88.00 or 2.31%.

by RTT Staff Writer

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