SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2(b) [1]

(Amendment No. 2)

Bell Industries, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

078107109

                                (CUSIP Number)                                

December 31, 2004

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

x Rule 13d-1(c)

¨ Rule 13d-1(d)

[1] The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(Continued on following pages)

CUSIP No. 078107109 SCHEDULE 13G Page 2 of 5 Pages

1	Name Of Reporting Persons I.R.S. Identification No. Of Above Persons (Entities Only)             Warren E. Buffett
2	Check The Appropriate Box If A Member Of A Group (a)  ¨ (b)  ¨
3	SEC USE ONLY
4	Citizenship Or Place Of Organization             United States Citizen

  5    Number Of Shares Beneficially Owned By Each Reporting Person With Sole Voting Power

                0

  6    Number Of Shares Beneficially Owned By Each Reporting Person With Shared Voting Power

                0

  7    Number Of Shares Beneficially Owned By Each Reporting Person With Sole Dispositive Power

                0

  8    Number Of Shares Beneficially Owned By Each Reporting Person With Shared Dispositive Power

                0

9	Aggregate Amount Beneficially Owned By Each Reporting Person             0
10	Check Box If The Aggregate Amount In Row (9) Excludes Certain Shares             Not Applicable	¨
11	Percent Of Class Represented By Amount In Row (9)             0
12	Type Of Reporting Person             IN

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Item 1	(a).	Name of Issuer:
		Bell Industries, Inc.
Item 1	(b).	Address of Issuer’s Principal Executive Offices:
		1960 East Grand Avenue, Suite 560
		El Segundo, California 90245
Item 2	(a).	Name of Persons Filing:
Item 2	(b).	Address of Principal Business Office:
Item 2	(c).	Citizenship:
		Warren E. Buffett 1440 Kiewit Plaza Omaha, Nebraska 68131 United States Citizen
Item 2	(d).	Title of Class of Securities:
		Common Stock
Item 2	(e).	CUSIP Number: 078107109
Item 3.	If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
	(a)	¨	Broker or Dealer registered under Section 15 of the Act.
	(b)	¨	Bank as defined in Section 3(a)(6) of the Act.
	(c)	¨	Insurance Company as defined in Section 3(a)(19) of the Act.
	(d)	¨	Investment Company registered under Section 8 of the Investment Company Act of 1940.
	(e)	¨	An investment advisor registered in accordance with Rule 13d-1(b)(1)(ii)(E);
	(f)	¨	An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
	(g)	¨	A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
	(h)	¨	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;
	(i)	¨	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;
	(j)	¨	Group in accordance with Rule 13d-1(b)(1)(ii)(J).

Page 3 of 5 Pages

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Item 4.	Ownership
	(a)	Amount Beneficially Owned:
		0
	(b)	Percent of Class:
		0
	(c)	Number of shares as to which such person has:
		(i)	sole power to vote or to direct the vote:
			0
		(ii)	shared power to vote or to direct the vote:
			0
		(iii)	sole power to dispose or direct the disposition of:
			0
		(iv)	shared power to dispose or to direct the disposition of:
			0
Item 5.	Ownership of Five Percent or Less of a Class.
	If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the securities, check the following.  x
Item 6.	Ownership of More than Five Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable
Item 10.	Certification.
	By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.

Page 4 of 5 Pages

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SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated this 14th day of February, 2005

/s/ Warren E. Buffett

Warren E. Buffett

Page 5 of 5 Pages

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