Buffett's Berkshire Slashes Consumer Stock Holdings
Warren Buffett's Berkshire Hathaway did a lot of selling this spring, slashing its holdings in a trio of consumer product companies.
Most notably, Berkshire reduced its holdings of Johnson & Johnson by almost 19 million shares to 10.3 million shares as of June 30.
That's a drop of 64 percent compared to its holdings just three months before.
The shares that were sold are worth almost $1.3 billion at the stock's current price, leaving a stake worth $708 million.
In another large cut reported in the company's 13-F filing with the SEC, Berkshire reduced its holdings of Procter & Gamble by 19 percent, or about $910 million. It held 59.6 million shares as of the end of June. They're currently worth $3.97 billion and are still one of Berkshire's biggest holdings.
Kraft Foods was also cut dramatically, with a 25 percent reduction worth $784 million. Berkshire's 58.8 million shares are now worth $2.4 billion. (Read More: Berkshire's Biggest Holdings)
Some other big names were also targeted, although the dollar amounts aren't as big.
Berkshire eliminated its 7.745 million share stake in Intel , worth over $204 million.
It almost entirely got rid of its relatively small Ingersoll-Rand holding, chopping it by 97 percent, or around $28 million.
Also cut: General Electric . That stake was reduced by 36 percent to just over 5 million shares, a drop of about $58 million.
It wasn't all selling.
Berkshire added a relatively large stake now worth about $1 billion in Phillips 66. It held 27,163,918 shares as of June 30.
National Oil Well Varco is another addition. That holding of 2.8 million shares is worth almost $216 million.
Berkshire also more than quadrupled its stake in Viacom to 6.8 million shares from 1.6 million. Those holdings are now worth about $335 million.
It also more than tripled its holdings of Bank of New York Mellon to 18.7 million shares from 5.6 million. That stake is now worth almost $290 million.
Berkshire also reported increases for DaVita, Directv, Wells Fargo, IBM , Liberty Media , and Lee Enterprises .
The total value of Berkshire's reported U.S. stock holdings slipped 1.3 percent to $74.3 billion as of June 30, compared to $75.3 billion.
The company's new filing does not say that any confidential information had been omitted.
United Parcel Service, down 82 percent or $89 million.
Visa, down 27 percent or $102 million.
CVS Caremark, down 25 percent or $79 million.
Verisk Analytics, down 16 percent or $17 million.
Dollar General, down 9 percent or $16 million.
US Bancorp, down 4 percent or $100 million.
ConocoPhillips, down 1 percent, or $13 million.
For more Buffett Watch updates follow alexcrippen on Twitter.
Email comments to firstname.lastname@example.org