Home Depot can't help Warren Buffett.
Berkshire Hathaway (BRKA), the Omaha, Neb., company run by the billionaire investor, sold its entire Home Depot stake in the third quarter, according to a filing Monday with the Securities and Exchange Commission.
Berkshire's quarterly filings detailing its investments are closely scrutinized because investors in Berkshire have received 20% compounded annually for more than 40 years, in part due to Buffett's success as a stockpicker.
Berkshire isn't getting out of the home improvement game altogether. It continues to hold 6.5 million shares of Lowe's (LOW), the North Carolina-based Home Depot rival.
Home Depot isn't alone in disappearing from Buffett's portfolio. Berkshire also sold its holdings in auto dealer Carmax (KMX), document company Iron Mountain (IRM), energy provider NRG (NRG) and garbage collector Republic Services (RSG). The positions Berkshire sold were worth $860 million at June 30.
Meanwhile, Berkshire took a new position in financial custodian Bank of New York Mellon (BK), buying almost 2 million shares worth $52 million at Sept. 30.
Berkshire added to its position in Wells Fargo (WFC), the San Francisco bank that is the No. 3 U.S. mortgage player. It bought around 11 million shares during the third quarter, giving it more than 300 million shares.
But Berkshire cut its stake in Moody's (MCO), the credit rating company whose shares Buffett has owned for more than a decade, by 2 million shares to 28 million.
Is Citigroup jealous of all the attention Goldman Sachs has been getting from the SEC?
Goldman (GS), you may have heard, was sued last month by the Securities and Exchange Commission. The SEC, led by Mary Schapiro (right), claims Goldman ripped off some investors in a subprime-related debt issue by failing to make clear that a hedge fund manager named John Paulson was betting against the deal -- and helping to select MOREColin Barr - May 10, 2010 10:59 AM ET
The bank outlines modest exposure to the European debt crisis.
Tragically, people are sometimes killed by pigs. It's not a moment too soon, then, that a filing Friday shows the PIIGS pose little threat to the health of the Bank of America (BAC).
The PIIGS, of course, are the increasingly troubled European nations of Portugal, Ireland, Italy, Greece and Spain. Investors are betting it's more likely than not that Greece, which has MOREColin Barr - May 7, 2010 2:32 PM ET
|The medical marijuana ad that never aired, despite contrary media headlines|
|2 million students missing out on college aid|
|Boeing reports wing cracks on Dreamliners|
|The bull market at 5: Not old yet|
|China to fight pollution with drones|