Kraft Foods (KFT) Higher As Buffett Builds 8.6% Stake

Shares of Kraft Foods (NYSE: KFT) are 3% higher this morning after it was disclosed that the Oracle of Omaha, Warren Buffett, has built up an 8.6% stake (132.4 million shares) in the large packaged food company.

Buffett actually started building the stake in the second quarter of 2007 (ended 6/30/07), but confidential treatment from the SEC keep the stake hidden until yesterday.

In late May of 2007, StreetInsider.com Premium users were alerted to rumors Buffett was accumulating a stake in Kraft. A Wall Street Journal report in July of 2007 added more validity to the talk, as the paper said Buffett has acquired a small stake in Kraft. Well, 132M shares is by now means a small stake, but the stake was likely small by Buffett standards in July.

For a complete summary of Buffett's holdings please see StreetInsider.com's Summary of his 13F for the quarter ended 12/30/07, which was released after the close yesterday.

You can also track all Buffett related news at StreetInsider.com here. StreetInsider.com Premium members can get e-mail alerts when there is new Buffett news.

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