Warren Buffet picks Minnesota company as a top investment


They don't call him 'The Oracle of Omaha' for nothing. USA Today notes that stocks that interest multibillionaire Warren Buffett have great influence among other investors. Now a new filing has given Wall Street a peek at stocks he is choosing, which includes a Minnesota company.

The chief executive officer of Berkshire Hathaway recently filed mandatory reports required by the Securities & Exchange Commission. His filing reveals his stake in "...some of the most popular blue chips known to Wall Street."

Berkshire's top 10 stocks included U.S. Bancorp, which was eighth on the list. USA Today called the Minneapolis-based bank "a favorite of Buffett's," noting that Berkshire increased its stake slightly to 79.1 million shares during the third quarter.

It's not the first time for the investment. In August, Twin Cities Business noted that the legendary investor increased the Berkshire Hathaway investment in U.S. Bancorp in the second quarter by 27 percent, according to an SEC filing.

Buffett's number one stock in the recent filing was WellsFargo. Despite a slowdown in the home mortgage business and large scale layoffs, including hundreds in Minnesota, Buffett made it his top holding. Berkshire held 463.1 million shares of the nation's largest bank at the end of the third-quarter, worth $19.1 billion.

Other stocks in the top ten list include DIRECTV, Exxon Mobil, Wal-Mart and Procter & Gamble and Coca-Cola.

Berkshire Hathaway owns a diverse array of companies, including Minnesota-based Dairy Queen.

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