On February 27th of 2016, Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) released Warren Buffett's much anticipated shareholder letter. Per usual the text contained wit and humor on topics ranging from politics and productivity to important risks and a John Maynard Keynes-like demonstration of what's possible for future generations. There was a lot to mull over.
One excerpt in particular that caught my attention related to Berkshire's largest publicly traded investments: "Berkshire increased its ownership interest last year in each of its "Big Four" investments - American Express (NYSE:AXP), Coca-Cola (NYSE:KO), IBM (NYSE:IBM) and Wells Fargo (NYSE:WFC)." The last two companies make a lot of sense. The first two securities might not be as intuitive. Berkshire didn't add a single share to either Coca-Cola or American Express and yet Buffett now owns a greater share of both companies. "Coca-Cola and American Express, stock repurchases raised our percentage ownership."
Source: Seeking Alpha
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