Warren Buffett’s Berkshire Hathaway buys Kroger, cuts drugmaker stake

OMAHA, Neb. – 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. BRK.B,
-0.27%
said in a quarterly update with regulators on Monday that he had purchased nearly 11 million shares of Kroger KR,
+ 0.17%
shares during 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 531,752,
+1.45%
and reduced its investments in the drug manufacturer Merck MRK,
-0.40%,
Abbvie Inc. ABBV,
-0.32%
and Bristol-Myers Squibb Co. BMY,
+ 0.13%
At the same time, Berkshire announced a new stake of 1.6 million shares in the spin-off of Merck, Organon & Co. OGN,
+ 0.80%.

During the quarter, Berkshire also sold its nearly 14 million shares of paint maker Axalta Coating Systems AXTA,
-1.00%
to eliminate this detention.

Many investors follow the company’s investments closely due to Buffett’s remarkable 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, like Apple AAPL,
-1.83%,
Coca Cola KO,
-1.64%
and Bank of America BAC,
+ 0.12%.
He said investments of less than $ 1 billion would likely be the work of Berkshire’s other two investment managers.

Berkshire also reduced its stake in automaker General Motors GM,
-0.37%
from 7 million shares to 60 million shares. And he cut his stake in oil producer Chevron CVX,
-0.58%,
professional services firm Marsh & McLennan MMC,
-1.51%,
US Bancorp USB,
-0.16%
and the media company Liberty Global LBTYA,
+ 0.81%.

The largest investments in the portfolio of Berkshire, Apple and Bank of America, remained unchanged in the second quarter.

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.

About Mary Moser

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