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  MUTUAL FUND ::  Warren Buffett - Berkshire Hathaway:
 

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Portfolio - Key Facts:
As of date: June 30, 2009

Proper name of fund:

Berkshire Hathaway Inc.
Trading symbol: BRK-A
Fees:
Management Fees: n/a %
Distribution (12b-1) Fees: n/a %
Other Expenses: n/a %
Total Fund Operating Expenses: n/a %
# of Stocks in Portfolio: 41
Portfolio Value: $ 48.95 billion
# of New Buys: 1
# of New Sells: 1
About The Portfolio Manager: Warren Buffett
America's most beloved investor is now the world's richest man. Shares of Berkshire Hathaway climbed 25% since the middle of last July.

Son of Nebraska politician, Warren Buffett delivered newspapers as a boy. He filed first tax return at age 13, claiming $35 deduction for bicycle.

Buffett studied under value investing guru, Benjamin Graham, at Columbia.

The Oracle of Omaha issued a challenge to members of The Forbes 400 in October; said he would donate $1 million to charity if the collective group of richest Americans would admit they pay less taxes, as a percentage of income, than their secretaries.

Buffett has long promised to give away his fortune posthumously. Irrevocably earmarked the majority of his Berkshire shares to charity in 2006, mostly to the Bill & Melinda Gates Foundation. Gift was valued at $31 billion on day of announcement; donation will far exceed that sum so long as Berkshire shares continue to rise.

Excerpt from prospectus/fund overview: Excerpt from "Owner's Manual" from Warren Buffett:

In June 1996, Berkshire’s Chairman, Warren E. Buffett, issued a booklet entitled “An Owner’s Manual*” to Berkshire’s Class A and Class B shareholders. The purpose of the manual was to explain Berkshire’s broad economic principles of operation. An updated version is reproduced on this and the following pages.
OWNER-RELATED BUSINESS PRINCIPLES
At the time of the Blue Chip merger in 1983, I set down 13 owner-related business principles that I thought would help new shareholders understand our managerial approach. As is appropriate for “principles,” all 13 remain alive and well today, and they are stated here in italics.

1. Although our form is corporate, our attitude is partnership. Charlie Munger and I think of our shareholders as owner-partners, and of ourselves as managing partners. (Because of the size of our shareholdings we are also, for better or worse, controlling partners.) We do not view the company itself as the ultimate owner of our business assets but instead view the company as a conduit through which our shareholders own the assets.
Charlie and I hope that you do not think of yourself as merely owning a piece of paper whose price wiggles around daily and that is a candidate for sale when some economic or political event makes you nervous. We hope you instead visualize yourself as a part owner of a business that you expect to stay with indefinitely, much as you might if you owned a farm or apartment house in partnership with members of your family. For our part, we do not view Berkshire shareholders as faceless members of an ever-shifting crowd, but rather as co-venturers who have entrusted their funds to us for what may well turn out to be the remainder of their lives.
The evidence suggests that most Berkshire shareholders have indeed embraced this long-term partnership concept. The annual percentage turnover in Berkshire’s shares is a small fraction of that occurring in the stocks of other major American corporations, even when the shares I own are excluded from the calculation.
In effect, our shareholders behave in respect to their Berkshire stock much as Berkshire itself behaves in respect to companies in which it has an investment. As owners of, say, Coca-Cola or American Express shares, we think of Berkshire as being a non-managing partner in two extraordinary businesses, in which we measure our success by the long-term progress of the companies rather than by the month-to-month movements of their stocks. In fact, we would not care in the least if several years went by in which there was no trading, or quotation of prices, in the stocks of those companies. If we have good long-term expectations, short-term price changes are meaningless for us except to the extent they offer us an opportunity to increase our ownership at an attractive price.

2. In line with Berkshire’s owner-orientation, most of our directors have a major portion of their net worth invested in the company. We eat our own cooking.
Charlie’s family has 90% or more of its net worth in Berkshire shares; I have about 99%. In addition, many of my relatives—my sisters and cousins, for example—keep a huge portion of their net worth in Berkshire stock.
Charlie and I feel totally comfortable with this eggs-in-one-basket situation because Berkshire itself owns a wide variety of truly extraordinary businesses. Indeed, we believe that Berkshire is close to being unique in the quality and diversity of the businesses in which it owns either a controlling interest or a minority interest of significance.
Charlie and I cannot promise you results. But we can guarantee that your financial fortunes will move in lockstep with ours for whatever period of time you elect to be our partner.

Read more...

Official website for more information: http://www.berkshirehathaway.com/reports.html
 
Current Portfolio - Specific Stocks:
As of date: June 30, 2009

Current Portfolio:
(41)

Coca-Cola (KO)
Wells Fargo (WFC*)
Burlington Northern Santa Fe (BNI)
Procter & Gamble (PG*)
American Express (AXP)
Kraft Foods Inc. (KFT)
ConocoPhillips (COP)
Johnson & Johnson (JNJ)
Wesco Financial Corp. (WSC)
Moody's Corp. (MCO)
US Bancorp (USB)
Wal-Mart (WMT)
Washington Post Co. (WPO)
Union Pacific Corp. (UNP)
Nike Inc. (NKE)
M&T Bank Corp. (MTB)
Costco (COST)
NRG Energy, Inc. (NRG)
WellPoint Inc. (WLP)
USG Corp. (USG)
Comcast (CMCSK)
Ingersoll-Rand (IR)
Nalco Holding Co. (NLC)
CarMax Inc. (KMX)
Lowe's (LOW)
Sanofi-Aventis (SNY)
Torchmark Corp. (TMK)
Iron Mountain Inc. (IRM)
General Electric (GE)
Eaton Corp. (ETN)
Becton Dickinson & Co. (BDX)
Unitedhealth Group, Inc. (UNH)
Norfolk Southern Corp. (NSC)
United Parcel Service, Inc. (UPS)
Bank of America (BAC*)
Home Depot (HD*)
GlaxoSmithKline (GSK)
SunTrust Banks Inc. (STI)
WABCO Holdings Inc. (WBC)
Gannett Co., Inc. (GCI)
Comdisco Holding Co. Inc. (CDCO.OB)
 

See all CURRENT stocks in Yahoo! Finance here >>

 
New Stocks Added:
(1)
Becton Dickinson & Co. (BDX)
 

See all NEW stocks in Yahoo! Finance here >>

 
Stocks Sold Out Of:
(1)
Constellation Energy Group, Inc. (CEG)
 

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*Also owned for Jim Cramer's Charitable Trust Portfolio. Note that Jim trades frequently, so check the site for current portfolio here>>

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Berkshire Hathaway Inc.

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