Buffett Slashes Kraft Stake (BRK.A, KFT, PG)

Berkshire Hathaway BRK has cut its stake in Kraft Foods KFT for the first time in two years. According to a regulatory filing made by the company, Buffett is selling Procter & Gamble PG shares as well. Buffett sold 31.5 million Kraft (KFT) shares, decreasing his holding to 106.7 million shares as of March 31. Berkshire now owns a 6% stake in the food company and is still its largest shareholder. Earlier this year, Kraft had acquired Cadbury. Buffett was vocal about his opposition to the deal as he deemed the $19 billion price tag too hefty. Kraft partly funded the deal by selling its fast-growing DiGiorno and Tombstone Pizza business. Berkshire (BRKA) also sold 8.4 million Procter & Gamble (PG) shares. Berkshire now owns a 2.7% stake in the company.