Traverse City Record-Eagle

August 16, 2013

Berkshire buys up GM stock, cuts Kraft, Mondelez


Traverse City Record-Eagle

---- — NEW YORK (AP) — Warren Buffett’s Berkshire Hathaway Inc. has sharply boosted its stake in General Motors, while again cutting its stakes in packaged food companies Kraft and Mondelez.

As of June 30, Berkshire had 40 million shares of the auto maker, according to a filing on Thursday with the Securities and Exchange Commission. That’s up 60 percent from the stake reported as of March 31.

Meanwhile, the company slashed its stake in Kraft Foods Group Inc. by 88 percent to 192,666 shares.