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Rating:Buffett's Buy Sends Some Funds Sky High Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, November 10, 2009

Buffett's Buy Sends Some Funds Sky High

News summary by MFWire's editors

The Oracle of Omaha still has the golden touch - and this time, several mutual funds stand to reap the rewards. In the wake of last week's announcement that Berkshire Hathaway will buy Burlington Northern Santa Fe, the Wall Street Journal's Daisy Maxey reports that mutual funds with substantial holdings in Burlington Northern Santa Fe saw their assets, like the company's stock price, rise substantially.

Standing in the winner's circle was the $413.7 million iShares Dow Jones Transportation Average, which had 11.2 percent of its assets in Burlington according to most recent disclosures and which posted a 5.3 percent gain last Tuesday, as well as the $271.4 million Davis Real Estate fund, which had 4.1 percent of assets invested in Burlington. Other funds mentioned that profited from Buffett's acquisition include the Van Kampen American Franchise and several American Funds, most notably the Growth Fund of America.

With Burlington's stock shooting up 30 percent last Tuesday, the mutual funds that stood to benefit the most had over $100 million in assets and at least a two percent position in Burlington, according to their latest disclosures. Of this group, Maxey wrote that the clear winners were those that beat the S&P 500 index on Tuesday, which indicates that they still held Burlington's shares. 

Edited by: Patricia Kelly

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