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Tuesday, August 17, 2021 3:42:23 PM

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>>> Warren Buffett Buys More Consumer Stocks, Sells Drug Stocks, GM

Investor's Business Daily




Warren Buffett revealed more exposure to consumer stocks as Berkshire Hathaway (BRKB) posted a key regulatory filing for the second quarter of 2021 late Monday.

The highly anticipated 13-F showed Buffett added to his positions in grocery chain Kroger (KR) by 21% and high-end furniture retailer RH (RH) by 2%.

Berkshire grew its stake in insurance brokerage Aon (AON) by 7% after buying if for the first time in Q1.

Meanwhile, Buffett sold more shares in drug giants, slashing his Merck (MRK) holdings by 49%, Bristol-Myers Squibb (BMY) by 15%, and AbbVie (ABBV) by 10% after opening those positions in Q3 2020. But he did initiate a stake on Merck spinoff Organon (OGN).

Berkshire also exited its position in biotech Biogen (BIIB) and trimmed its stake in top U.S. automaker General Motors (GM) by 10%. Its Chevron (CVX) stake was cut by 2%.

Kroger shares rallied 2.8% on the stock market today, Merck edged up 0.6%, AbbVie added 0.2%, GM fell 2.9%, RH lost 2%, and Organon added 1%.

Berkshire remained a seller of stocks in Q2, according to its earnings report earlier this month.

Its net stock sales of $1.1 billion in Q2 was down from $3.9 billion in Q1, but it marked the third straight quarter of selling.

Still, the value of Berkshire's overall stock portfolio swelled 8.7% to $293.8 billion by the end of Q2. That was up from $270.4 billion in Q1, as the S&P 500 and Nasdaq hit fresh highs to close out the quarter.

Meanwhile, Berkshire bought $6 billion worth of BRKB stock in Q2. That move cam after it repurchased $6.6 billion in Q1 and a record $27.4 billion in 2020.

Buffet's stock portfolio remains highly concentrated in a handful of companies. In Q2, 69% of its aggregate value was in Apple (AAPL) ($124.3 billion) and Bank of America (BAC) ($42.6 billion). Also, American Express (AXP) ($25.1 billion), and Coca-Cola (KO) ($21.6 billion).


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