Posted By: Brad Martin

Tue Nov 14, 6:20 PM ET

NEW YORK (Reuters) - Shuffling its investments in
consumer-oriented stocks, Warren Buffett's Berkshire Hathaway
Inc. (NYSE:BRKA - news) (NYSE:BRKB - news) on Tuesday said it raised its holdings
in Lowe's Cos. (NYSE:LOW - news) and Nike Inc. (NYSE:NKE - news), but may have
reduced its stakes in Anheuser-Busch Cos. (NYSE:BUD - news) and Target
Co. (NYSE:TGT - news).
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In a regulatory filing, Berkshire said it owned 7 million
shares of Lowe's, the home improvement retailer, on September
30, up from 390,000 on June 30. It also said it owned 4 million
shares of footwear specialist Nike, up from 2.47 million.

Berkshire also reported a 36.42 million share stake in
Budweiser brewer Anheuser-Busch, down from 43.53 million in
June. It also reported a 745,700 share Target stake, compared
with 5.5 million shares in June.

Regulators sometimes let Berkshire delay disclosing some of
its buying and selling so investors cannot copy it, and have
done so in the past with respect to the Target stake. Berkshire
reported owning $49.66 billion of stock as of September 30.

Among other changes in the third quarter, Berkshire said it
cut its stake in tax preparer H&R Block Inc. (NYSE:HRB - news) to 10.97
million shares from 11.39 million, and raised its stake in
records management company Iron Mountain Inc. (NYSE:IRM - news) to 6.03
million shares from 5.02 million.

It also confirmed it has more than doubled its stake in
building products company USG Corp. (NYSE:USG - news), to 16.7 million
shares from 6.5 million.

In addition, Berkshire reported a 10 million share stake in
Western Union Co. (NYSE:WU - news), which was recently spun off from
another Berkshire holding, First Data Corp. (NYSE:FDC - news).

Buffett, the world's second-richest person behind
Microsoft's Bill Gates, generally favors investing in companies
with stable, easy-to-understand businesses that are industry
leaders, and whose shares appear undervalued.

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