Buffett & Berkshire Cut Stakes in Kraft, Mondelez, Add to General Motors

Berkshire Hathaway Inc., owned by Warren Buffett, sharply boosted its ownership stake in General Motors. It also cut back on its stake in packaged food companies Mondelez and Kraft.

Berkshire Hathaway owned 40 million shares of the order maker as of June 30, according to the filings made with the SEC on Thursday. This is a 60% raise in stake from the last report made on March 31.

On the other hand, the company decided to slash its stake in Kraft Foods Group Inc. by a total of 88%. They cut their stake down to 192,666 shares. They slashed their stake in Mondelez International Inc. by an even bigger margin of 92%. They now own 578,000 shares.

These two companies split up last year. Mondelez ended up with the global snack brands, owning companies such as Chips Ahoy and Oreo which are expected to see faster growth. Although, as an independent company, Mondelez has unfortunately stumbled during the first few quarters on its own. Kraft took over all of the North American grocery brands such as Jell-O, Miracle Whip and Oscar Meyer.

Berkshire Hathaway has been reducing its shares in both companies for some time. As of last fall, they owned 30.5 million shares of Kraft. And as of late last year, the company owned 12.8 million shares of Mondelez.

Thursday’s filing also shows that Berkshire Hathaway opened up a new stake in Dish Network. They currently have a total of 547,312 shares.

Many investors try to mimic Berkshire Hathaway, and they follow the investments of Warren Buffett very closely. Please understand that the report doesn’t show which purchases are made by Berkshire Hathaway investment managers and which moves are made directly by Warren Buffett.

In truth, it’s known that Buffett’s investments are typically the larger ones within the portfolio. Their value is typically at least $300 million or more.