A Busy Oracle of Omaha

Buffett further reduced his stake in big oil, most notably selling 19.7 million shares (or 34% of his stake) of ConocoPhillips (NYSE: COP – News). Buffett has cited his 2008 purchase of ConocoPhillips shares as a mistake — evidently one he continues to repair.

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Buffett also sliced his health-care holdings, selling more than half of his remaining shares of United Health and WellPoint. More surprisingly, Buffett reduced his stake in Johnson & Johnson; he added more than 4 million shares to his stake in the company as recently as Q2’09.

The big buysIn a quarter of selling, Buffett added to his stakes in only five stocks, suggesting a high level of conviction in those companies.

Company NameNo. Shares Bought in Q409% Share Increase vs. Q309Total No. [Read the full article]

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