Warren Buffett’s Berkshire Hathaway made several big moves in the second quarter according to new regulatory filings, including slashing its holdings of several consumer stocks.
Alex Crippen of CNBC’s Warren Buffett Watch reports that Berkshire cut its Johnson & Johnson holdings by more than 60%, its Kraft Foods holdings by 25%, and its Procter & Gamble holdings by nearly 20%. Berkshire also entirely cut its $204 million position in Intel.
Berkshire did add some holdings and increase others. New additions include National Oil Well Varco and Phillips 66. The firm also quadrupled its stake in Viacom and tripled its stake in Bank of New York Mellon.