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It could have something to do with increasing BRKs share of WMT earngings. From page 8 of the 2014 annual report "And, if you think tenths of a percent aren’t important, ponder this math: For the four companies in aggregate, each increase of one-tenth of a percent in our ownership raises Berkshire’s portion of their annual earnings by $50 million."

I am not quite sure how to calculate how much an additional 27.7M shares (since 2012) would increase BRK's portion of WMTs earnings to get an indicator of why the purcases were made (undervaluation or increasing share of earnings), since the above statment only applies to the top four stock holdings.

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