Nelson reduces holdings in Buffett firm

Sen. Ben Nelson (D-Neb.) reduced his holdings last year in Berkshire Hathaway, the investment company run by Warren Buffett.

Nelson had between $500,000 and $1 million in Berkshire stock in 2008, but reduced his holdings to between $250,000 and $500,000 at the end of 2009, according to an examination of public finance disclosure filings by The Hill.

Nelson’s interests in Berkshire received attention earlier this year when he sought to include a provision in the financial regulatory reform bill that was supported by Buffett, who hails from Nebraska.

Nelson’s holdings in Berkshire stock received scrutiny earlier this year during the debate over Wall Street reform. Nelson voted against ending a Senate filibuster on the legislation after an amendment excluding existing derivatives contracts from certain new rules in the legislation was defeated. Berkshire supported that amendment.

Nelson said he was worried the Wall Street bill would have hurt businesses across the country.

The financial disclosure forms, however, show that Nelson’s holdings in Berkshire fell the year before he voted against ending debate on Wall Street reform.