- Warren Buffett's Berkshire Hathaway showed it its quarterly SEC filings that it has it made significant reductions in it Kraft Foods and Mondelez holdings during the second quarter.
- The filings showed Berkshire owning 92,666 Kraft Foods shares on June 30, which would be an 88% drop from March 31 report, and 578,000 Mondelez, which would constitute a 91.8% drop in the same period.
Kraft's second-quarter earnings failed to live up to expectations this year, though the company has been retooling its marketing efforts for several be campaign launches this quarter, including efforts for Jell-O and its Kraft Recipe Makers. Meanwhile, Nelson Peltz, an activist investor launched his own campaign to get PepsiCo to buy Mondelez and create an international snack super-power. Kraft and Mondelez, which separated into two distinct companies last fall, have both been looking for traction in a competitive market place. This move from the Oracle of Omaha's Berkshire Hathaway, however, does not provide a vote of confidence.