Buffett cuts Kraft in number of Berkshire Q1 stock changes

clock

Warren Buffett's Berkshire Hathaway cut its stake in Kraft by 23% in Q1 after saying the food giant made a number of "dumb" moves in acquiring Cadbury.

Berkshire cut its holding in Kraft from 138.27 million shares to 106.73 million over the quarter, filings to the US Securities and Exchange Commission show. The group was once the largest shareholder in Kraft, controlling 9.4% of the company. Buffett was critical of Kraft and CEO Irene Rosenfeld for using "undervalued" company stock to buy Cadbury, and for selling Kraft's frozen pizza businesses to Nestle to partly fund the deal. At Berkshire's annual shareholder meeting earlier this month, Buffett said the pizza disposal was "particularly dumb". Berkshire sold a net $639m of eq...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on US

Shard Capital's Julian Wheeler: Trump 'gambling with fate of US economy'
US

Shard Capital's Julian Wheeler: Trump 'gambling with fate of US economy'

Trump behaving with 'absolutism'

Julian Wheeler
clock 24 March 2025 • 3 min read
Fed dampens US growth prospects as Powell warns of tariffs' inflationary impact
US

Fed dampens US growth prospects as Powell warns of tariffs' inflationary impact

Too early to look through inflation

Linus Uhlig
clock 21 March 2025 • 2 min read
The Big Question: Can Donald Trump's stance on tariffs work alongside US stock market growth?
US

The Big Question: Can Donald Trump's stance on tariffs work alongside US stock market growth?

Nine experts answer

Investment Week
clock 17 March 2025 • 1 min read
Trustpilot