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Warren Buffett's Berkshire Hathaway Cuts Stake in General Motors, Boosts Kroger Holdings

Berkshire Hathaway reduces its stake in General Motors during the second quarter and also trims investments in drugmakers AbbVie and Bristol Myers Squibb.

Warren Buffett’s Berkshire Hathaway BRK.A reduced its stake in General Motors GM during the second quarter and also trimmed its investments in drugmakers AbbVie ABBV, Bristol Myers Squibb BMY and Merck MRK.

Berkshire Hathaway boosted its stake in grocer Kroger KR, according to a 13-F filing released late Monday.

The conglomerate's investment in General Motors was valued at $3.55 billion at the end of June. Berkshire Hathaway cut its stake in the U.S. automaker by 7 million shares to 60 million shares.

Berkshire Hathaway has held a stake in General Motors for more than nine years, according to Bloomberg, but has been reducing its holdings in recent quarters.

General Motors shares fell more than 1% in premarket trading to $52.40. The stock has gained 27.16% so far in 2021.

Berkshire Hathaway purchased nearly 11 million shares of Kroger during the second quarter, raising its stake to 61.8 million shares.

Kroger rose 0.78% in after-hours trading Monday to $43.78. Shares of the grocery chain have jumped nearly 37% so far this year.

Buffett made no changes to his top holding, Apple AAPL, maintaining a stake of 887 million shares in the tech giant. His stake in Bank of America BAC also remained unchanged during the second quarter.

Berkshire Hathaway trimmed its stake in oil giant Chevron  (CVX) - Get Free Report by 2.3% during the second quarter.

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