Thursday, August 15, 2013

Buffett's Berkshire Hathaway Pulls Out on Kraft, Mondelez Stakes


Warren Buffett's Berkshire Hathaway (BRK-A) sharply reduced its holdings of Kraft Foods (KRFT) and Mondelez (MDLZ) during the second quarter.
The company's quarterly filing with the SEC shows Berkshire held just 192,666 shares of Kraft Foods as of June 30. That's a drop of 88 percent from its reported holdings as of March 31.
Mondelez was cut by 91.8 percent to 578,000 shares.
The two companies were created by a split up of Kraft Foods Inc. in October, 2012.
(Read more: Berkshire's Heinz squeezes out 600 employees )
Berkshire increased its General Motors holdings by 60 percent to 40 million shares. That stake is worth $1.4 billion now.
Berkshire is reporting a new stake in Dish Network (DISH) of 547,312 shares. That's worth about $24 million at the stock's Wednesday close.
The small size of that stake indicates it was bought by one of Berkshire's portfolio managers, not by Buffett himself.
Buffett has said that the portfolio managers, Todd Combs and Ted Weschler, don't need or get his approval before buying or selling shares.
(Read more: Berkshire Hathaway's 15 Biggest Stock Holdings )
Contrary to other media reports, Berkshire made no changes in its holdings of Wells Fargo (WFC), American Express (AXP), and Coca-Cola (KO).
(Read more: Warren Buffett sees 'betrayal' as hospital drains big endowment )
In the first quarter of this year, Berkshire eliminated its holdings of two stocks: Archer Daniels Midland (ADM) and General Dynamics (GD),
Berkshire also added a 6.5 million share stake in Chicago Bridge & Iron.

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