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You Are Here: Home > Articles > Contributors > Buffett Sells More Puts on Burlington Northern

Buffett Sells More Puts on Burlington Northern
Oct 11, 2008

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Todd Sullivan

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Just days after selling puts on 1.3 million shares of Burlington Northern (BNI), Berkshire's (BRK.A) Warren Buffett is at it again..
This time he sold puts on Burlington Northern:
$80 strike, 1.1 million shares, expiring 12/08 for $7.03
$75 strike, 761k shares, expiring 12/08 at $5.78

1. The put options were written by National Indemnity Company (?NICO?), a subsidiary of OBH, Inc. (?OBH?). OBH is a subsidiary of Berkshire Hathaway Inc. (?Berkshire?). As OBH and Berkshire are each in the chain of ownership of NICO, each of Berkshire and OBH may be deemed presently to both beneficially own and have a pecuniary interest in all securities of Burlington Northern presently owned by NICO. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the Burlington Northern securities presently owned by NICO. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.


by Todd Sullivan (Value Plays)

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