Berkshire Hathaway, Inc. (Order Declining Review)

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 43142 \ August 10, 2000

In the Matter of

Berkshire Hathaway, Inc.

File No. 28-4545

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ORDER DECLINING TO REVIEW
THE DETERMINATION OF THE
DIVISION OF INVESTMENT
MANAGEMENT TO DENY
CONFIDENTIAL TREATMENT
I.

The Securities and Exchange Commission ("Commission") deems it appropriate and consistent with the public interest and protection of investors, pursuant to Rule 431(b)(2) of the Commission's Rules of Practice and Investigations ("Rules of Practice"), to decline to review the determination of the Division of Investment Management ("Division") to deny the June 1999 and September 1999 requests for confidential treatment of information filed by Berkshire Hathaway, Inc. ("Berkshire Hathaway") pursuant to Section 13(f) of the Securities Exchange Act of 1934 ("Exchange Act").

II.

1. Berkshire Hathaway's Petition for Review, filed on February 16, 2000, describes Berkshire Hathaway as a diversified holding company whose subsidiaries are engaged in numerous businesses, including property and casualty insurance and reinsurance.

2. Under Section 13(f)(5)(A) of the Exchange Act, Berkshire Hathaway is an institutional investment manager that exercises investment discretion over $100 million or more in reportable securities, as defined in Rule 13f-1(c) under the Exchange Act.

3. Berkshire Hathaway is subject to the reporting requirements of Rule 13f-1(a) under the Exchange Act, which requires Berkshire Hathaway to file Form 13F reports with the Commission on a quarterly basis.

4. On August 13, 1999, Berkshire Hathaway filed a request, pursuant to Rule 24b-2 under the Exchange Act, for confidential treatment of information required to be filed with the Commission pursuant to Section 13(f) of the Exchange Act ("Form 13F information") for the calendar quarter ended June 1999. Berkshire Hathaway also filed a public Form 13F report for the calendar quarter ended June 1999.

5. On November 15, 1999, Berkshire Hathaway filed a request, pursuant to Rule 24b-2 under the Exchange Act, for confidential treatment of Form 13F information for the calendar quarter ended September 1999. Berkshire Hathaway also filed a public Form 13F report for the calendar quarter ended September 1999.

6. On February 4, 2000, the Division, acting under delegated authority, denied Berkshire Hathaway's June 1999 and September 1999 requests for confidential treatment of Form 13F information ("February 4, 2000 Denial Letter").

7. On February 11, 2000, Berkshire Hathaway filed a Notice of Intention to Petition for Review indicating that it would appeal the Division's decision to deny confidential treatment of Form 13F information to the Commission.

8. On February 16, 2000, Berkshire Hathaway filed a Petition for Review, appealing the Division's February 4, 2000 denial of its June 1999 and September 1999 requests for confidential treatment of Form 13F information.

9. On February 22, 2000, Berkshire Hathaway filed separate amendments to its public June 1999 and September 1999 Form 13F reports. The amendments disclosed nine of the securities positions included in Berkshire Hathaway's June 1999 confidential treatment request, and eleven of the securities positions included in its September 1999 confidential treatment request.

III.

IT IS ORDERED that, after considering Berkshire Hathaway's Petition for Review pursuant to Rule 431(b)(2) of the Commission's Rules of Practice and under the standards for review set forth in Rule 411(b)(2) of the Commission's Rules of Practice, the Commission declines to review the Division of Investment Management's decision to deny Berkshire Hathaway's Form 13F confidential treatment requests for the calendar quarters ended June 1999 and September 1999.

By the Commission.

Jonathan G. Katz
Secretary