Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) snapped up a new position in grocery-store chain Kroger, the firm announced on Friday, while scaling back on key bank stocks.
According to a 13-F regulatory filing, Berkshire added nearly 19 million shares of Kroger (KR), worth about $549 million at the end of the fourth quarter. The news sent the grocer’s stock spiking 5% in after-hours trading.
Berkshire also disclosed a new stake in Biogen (BIIB), adding 648,447 shares during the fourth quarter.
What’s more, Berkshire disclosed some modest-sized positions in the SPDR S&P 500 ETF (SPY) and the Vanguard S&P 500 ETF (VOO).
During the quarter, Berkshire reduced the size of its positions in Wells Fargo (WFC), Goldman Sachs (GS), and Bank of America (BAC). Berkshire sold 55,156,100 shares of Wells Fargo to last hold 323.2 million shares. Wells Fargo remains the fifth-largest holding for Berkshire’s stock portfolio.
Berkshire massively cut its positions in Travelers (TRV) and Phillips 66 (PSX), selling 94% and 95% of the shares, respectively.
Elsewhere, Berkshire boosted its existing stakes in Occidental Petroleum (OXY) and GM (GM).
Investment firms of a certain size are required to disclose their long equity holdings 45 days after the end of each quarter.