Warren Buffett’s Berkshire Hathaway has sold off its entire holdings in some of the largest national brand companies, according to its latest filings.
In the November filing of its latest F13 stock report to the SEC, Berkshire Hathaway revealed it has sold its entire holdings of stock in P&G, Johnson & Johnson and Mondelez. In total the three make up almost $140 million in stock value for the holding company. The fund also sold off its holdings in UPS, Celanese, and General Motors.
Berkshire still holds Kraft Heinz and Coca Cola stock, which together make up just over 10% of the company’s portfolio.
To have the ‘Oracle of Omaha,’ one of the most successful and followed investors in the world sell off the entire portfolio of such large national brand companies is an interesting investment move. It could be a reaction to recent sales reports or, perhaps, a reflection of what he expects the future holds for those companies.
Recent quarterly reports have all had news of store brands taking share away from well-known national brands. In Campbell Soup latest quarterly result, the company reported volume sales had dropped 5% while P&G lost 1% in volume sales, including a drop of 3% in baby and family care segment.
Many national brand stocks have also suffered losses so far this year including P&G (-9.5%), Johnson & Johnson (-14%), and Campbell Soup (-7.7%).