Buffett’s firm ups Kroger stake while trimming drug holdings

KIFI

Published August 16, 2021 4:33 PM

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Billionaire Warren Buffett’s company has again increased the size of its bet on grocery giant Kroger, while scaling back several of its health care industry investments. Berkshire Hathaway Inc. said in a quarterly update with regulators Monday that it picked up nearly 11 million shares of Kroger stock during the second quarter, raising its holdings to 61.8 million shares. Buffett’s company also sold off investments in biotechnology firm Biogen and paint maker Axalta Coating Systems and reduced its stake in General Motors. Many investors follow Berkshire Hathaway’s investments closely because of Buffett’s remarkably successful track record.

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