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Billionaire Warren Buffett’s company has once again increased the size of its bet on grocery giant Kroger, while cutting many of its investments in the healthcare industry.
Berkshire Hathaway Inc. said in a quarterly update with regulators on Monday that it acquired nearly 11 million Kroger shares in the second quarter, bringing its holdings to 61.8 million shares. Buffett’s company has steadily increased its holdings in Kroger in recent quarters.
Berkshire also sold its 643,022 shares of biotech company Biogen and cut investments in drugmakers Merck, Abbvie Inc. and Bristol-Myers Squibb Co. At the same time, Berkshire announced a new stake of $ 1, 6 million shares in the spin-off of Merck Organon & Co.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| KR | THE KROGER CO. | 43.45 | +0.64 | + 1.50% |
| BIIB | BIOGEN, INC. | 343.50 | +1.25 | + 0.37% |
| MRK | MERCK & CO., INC. | 77.93 | +1.21 | +1.58% |
| ABBV | ABBVIE, INC. | 118.41 | +1.93 | +1.66% |
| BMJ | BRISTOL MYERS SQUIBB CO. | 68.68 | +1.17 | + 1.73% |
| OGN | ORGANON & CO. | 34.33 | +0.12 | + 0.35% |
| AXTA | AXALTA COATING SYSTEMS | 31.42 | -0.47 | -1.47% |
DOMINION ENERGY, WARREN BUFFETT’S BERKSHIRE HATHWAY ENERGY COMPLETE SALE OF PIPELINE QUESTAR
During the quarter, Berkshire also sold its nearly 14 million shares of paint maker Axalta Coating Systems to eliminate that stake.
Many investors follow the company’s investments closely due to Buffett’s remarkably successful track record.
Berkshire officials, however, typically do not comment on these quarterly statements. And the quarterly filing doesn’t make it clear what investments Buffett has made. The billionaire manages the biggest investments in Berkshire’s portfolio, such as Apple, Coca-Cola and Bank of America. He said investments of less than $ 1 billion would likely be the work of Berkshire’s other two investment managers.
Billionaire Warren Buffett’s company has once again increased the size of its bet on grocery giant Kroger, while cutting many of its investments in the healthcare industry. (AP Photo / Nati Harnik, file)
Berkshire also reduced its stake in automaker General Motors from 7 million shares to 60 million shares. And he reduced his holdings in oil producer Chevron, professional services firm Marsh & McLennan, US Bancorp and media firm Liberty Global.
The largest investments in the portfolio of Berkshire, Apple and Bank of America, remained unchanged in the second quarter.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.A | BERKSHIRE HATHAWAY, INC. | 435,649.99 | +2 525.98 | + 0.58% |
| AAPL | APPLE INC. | 151.12 | +2.02 | +1.35% |
| BAC | BANK OF AMERICA CORP. | 41.29 | -0.34 | -0.82% |
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In addition to investments, Berkshire, based in Omaha, Nebraska, owns more than 90 companies, including the BNSF Railroad, Geico Insurance and several large utilities. The conglomerate also owns manufacturing, furniture, footwear, jewelry, chocolate, underwear and brick businesses.
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