2020-11-17 08:23
publication
2020-11-17 08:23
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In the third quarter, Warren Buffett bought shares in pharmaceutical giants and sold stakes in banks.
We learn about transactions made by Berkshire Hathaway, a company controlled by a legendary investor, from documents submitted to the US Securities and Exchange Commission (SEC).
In the latest report, the greatest attention is paid to the increase in shares in pharmaceutical giants. As it follows from the famous 13F form, the portfolio of shares controlled by Buffett of Berkshire Hathaway includes shares of the popular since last week Pfizer (for USD 136 million) and AbbVie, Merck and Bristol-Myers Squibb (three packages of USD 1.8 billion). It is worth adding that the document describes the state at the end of the third quarter. In total, Berkshire has $ 9.3 billion, or 3.8 percent, in healthcare companies. the value of your portfolio.
As the Financial Times adds, Buffett lowered its exposure to American banks by selling some of the shares in JP Morgan Chase, PNC Financial, M&T Bank and Wells Fargo. The case of the latter bank, in which Buffett has been “sitting” for over 30 years and in the past owned over 13% of shares, is particularly emphasized. shares. After the last reduction, the legendary investor has only 3 percent. shares in a Californian bank.
There is no shortage of speculation that the reduction in exposure was related to the rejection by the bank’s management board of Buffett’s recommendation that the chairman of the bank should not be entrusted to a person associated with Wall Street. This did not happen, and Charles Scharf became the new head of the bank, with a past with JP Morgan, Visie and BNY Mellon.
MZ
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