The conglomerate added to its existing positions in two other stocks. One stands out as the best choice for income and value investors and should have solid growth prospects. One of the world's greatest investors isn't doing much investing these days.

Despite his immense wealth, Warren Buffett, as he admits, is a man of simple tastes. Perhaps that focus on basic American food staples inspired one of the more unexpected new buys from his investment vehicle Berkshire Hathaway (NYSE: BRK.

The insurance titan released its 3rd-quarter portfolio update, revealing new buys in a pizza chain company and a pool supplies company.