Buffett's firm adds to Wells Fargo stake, cuts J&J

OMAHA, Nebraska (AP) — Warren Buffett's company boosted its already sizeable stake in Wells Fargo & Co. last year and sold shares of Johnson & Johnson and Kraft Foods.

Berkshire Hathaway Inc. revealed a number of adjustments in its $66.2 billion stock portfolio in documents it filed Tuesday with the Securities and Exchange Commission.

By the end of 2011, Berkshire added new investments in Liberty Media Corp. and kidney dialysis firm DaVita Inc. and sold a small stake in Exxon Mobile, while it increased investments in CVS Caremark, DirectTV, General Dynamics Corp., Intel and Visa.

Many of the changes are likely the work of Berkshire's new investment manager Todd Combs, who manages between $1 billion and $3 billion. Berkshire officials did not immediately respond to a message Tuesday.