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Berkshire 13-F


Parsad
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I'm sure DTV was largely Weschler. DTV is pretty cheap, and I've been looking at it recently as well.

 

I used to work for DTV (in their Denver corporate office) and think it is a very well run compan, and I've owned shares of it in the past. The company generates a lot of cash, but also has a lot of debt, and.their moat iis their stronghold on business accounts.

 

Edit: sorry, I meant Weschler, not Combs.

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Guest ValueCarl

Did you say "business accounts," DCG?

 

Check out Slide 3:

 

http://files.shareholder.com/downloads/LVLT/1699561378x0x540974/bc47a996-f04f-41a1-9e15-ed9e5fddfe02/4Q11_External%20Earnings%20Deck_FINAL.pdf

 

You might want to connect some DTV history and dots here also:

 

http://blog.streamingmedia.com/the_business_of_online_vi/2007/09/level-3-streami.html

 

http://www.reveredata.com/reports/store/report/mna/11935_6116

 

http://www.convergedigest.com/Bandwidth/newnetworksarticle.asp?ID=16476

 

http://www.prnewswire.com/news-releases/level-3-to-help-support-directv-high-definition-tv-expansion-55235607.html

 

http://level3.mediaroom.com/index.php?s=23600&item=65565

 

Oh yes, and before you question my integrity and existence for posting on this forum again, my name is embedded in the Holy Book of Berkshire Hathaway, and to be more frank, rather than Direct TV, I have been buying it like a sex starved teenager in a whorehouse along with Mr. Buffett himself, I'll BETCHA! ;D

 

 

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Guest ValueCarl

It seemed to be turning into a Mohnish Pabrai and Direct TV thread, but I made sure it remained a Berkshire Hathaway one, didn't I! That's one diversified holding company that breeds a hell of alot of cash, and as The Oracle well advises all of his disciples sitting around the table dining with him as well as other mere mortals who might benefit from his WISDOM, investing in YOURSELF is the greatest investment of ALL!  ;)

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  • 7 months later...

@globalfinancepartners great update! it's definitely Ted Weschler at work...

 

It pays to clone Ted who managed to generate 25% annual returns in the last decade when S&P generated close to nothing

 

It appears that Ted has indeed been cloned or has been given wider responsibility for investing BRK's pension plans' assets.  About 40% of the holdings of DaVita are in some of BRK's pension plans.  In the past, the pension plan investments have been controlled by Warren.

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"About 40% of the holdings of DaVita are in some of BRK's pension plans"

 

Source?

 

It is in the filing.

 

9. 4,197,569 of the total reported securities as of September 28, 2012, are owned by the following pension plans of Berkshire's subsidiaries: Acme Brick Company Pension Trust (175,000), The Buffalo News Office Pension Plan (65,000), The Buffalo News Mechanical Pension Plan (16,000), The Buffalo News Drivers/Distributors Pension Plan (7,000), The Buffalo News Editorial Pension Plan (105,000), Dexter Pension Plan (90,000), Flightsafety International Inc. Retirement Income Plan (300,000), Fruit of the Loom Pension Trust (670,000), GEICO Corporation Pension Plan Trust (1,303,769), Johns Manville Corporation Master Pension Trust (1,182,800), Justin Brands, Inc. Union Pension Plan & Justin Brands, Inc. Pension & Trust (96,000), and Scott Fetzer Company Collective Investment Trust (187,000); each of Berkshire, Mr. Buffett and these pension plans disclaims beneficial ownership in such shares.

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"About 40% of the holdings of DaVita are in some of BRK's pension plans"

 

Source?

 

It is in the filing.

 

9. 4,197,569 of the total reported securities as of September 28, 2012, are owned by the following pension plans of Berkshire's subsidiaries: Acme Brick Company Pension Trust (175,000), The Buffalo News Office Pension Plan (65,000), The Buffalo News Mechanical Pension Plan (16,000), The Buffalo News Drivers/Distributors Pension Plan (7,000), The Buffalo News Editorial Pension Plan (105,000), Dexter Pension Plan (90,000), Flightsafety International Inc. Retirement Income Plan (300,000), Fruit of the Loom Pension Trust (670,000), GEICO Corporation Pension Plan Trust (1,303,769), Johns Manville Corporation Master Pension Trust (1,182,800), Justin Brands, Inc. Union Pension Plan & Justin Brands, Inc. Pension & Trust (96,000), and Scott Fetzer Company Collective Investment Trust (187,000); each of Berkshire, Mr. Buffett and these pension plans disclaims beneficial ownership in such shares.

 

Thanks for that!

 

It looks like DVA is now a core-holding for the long term... Was looking at DVA in the $80 range but was short of cash to invest into it... it was quite the character of a CEO/founder and a strong moat BUT the governement risk factor is always there

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DaVita is a great business with obvious tailwinds (aging population with bulging waistlines=more diabetes). You have tremendous customer lock-in too, as customers come back regularly for treatments at the same facility.

 

Well, to a point--it isn't as strong as most of companies Buffett would get involved with, as technological change can greatly change the evaluation.  In this area, that change may come somewhat faster than in transportation (railroads), for example. Even railroads are at the potential mercy to long-term technological change.

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DaVita is a great business with obvious tailwinds (aging population with bulging waistlines=more diabetes). You have tremendous customer lock-in too, as customers come back regularly for treatments at the same facility.

 

Well, to a point--it isn't as strong as most of companies Buffett would get involved with, as technological change can greatly change the evaluation.  In this area, that change may come somewhat faster than in transportation (railroads), for example. Even railroads are at the potential mercy to long-term technological change.

 

Nope. The basic technology has been around for more than 40 years.  It requires monitoring.  Skilled staff is superior to do it yourself.  Improvements will be incremental.  One disruptive development would be default negative option kidney donor transplants.  But this is not on the hot burner.

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