UP, Norfolk Southern revealed in Berkshire Hathaway portfolio
Just a month after becoming the largest shareholder of the Burlington Northern Santa Fe railroad, Warren Buffett's uber holding company, Berkshire Hathaway Inc., revealed Tuesday that it has acquired a sizable stake in California's other Class I railroad, Union Pacific.
Just days after the announcing the acquisition of a nearly 5 percent stake in BNSF on April 6, the holding company said it invested $700 million in an unidentified second railway and slightly less in a third.
U.S. Securities and Exchange Commission documents filed this week show that as of the end of last year, Berkshire owned 8.21 million shares of Omaha, Neb.-based Union Pacific valued at $755.6 million. This represents slightly more than 3 percent of the firm's outstanding shares.
The third investment was revealed as Norfolk, Va.-based Class I railroad Norfolk Southern, of which Berkshire Hathaway now owns 3.95 million shares, valued at $198.9 million. This represents about 1 percent of Norfolk Southern's outstanding shares.
Berkshire's original 16.1 million-share investment in the Fort Worth, Texas-based BNSF had grown to 39 million shares by early April.
According to the filings, the purchases of railroad stock began sometime between July and September.
UP, Norfolk Southern revealed in Berkshire Hathaway portfolio
