Photo / APWarren Buffett's Berkshire Hathaway placed a US$5.7 billion ($8.2b) bet on four US pharmaceutical stocks in the third quarter, while trimming its stake in Apple and several big banks. Berkshire Hathaway added 21.3 million shares of AbbVie, 30 million shares of Bristol-Myers Squibb, 22.4 million shares of Merck and 3.7 million shares of Pfizer, according to a filing on its stock portfolio with the Securities and Exchange Commission on Monday. The Merck, Bristol Myers and AbbVie stakes are all worth roughly US$2b apiece, while the Pfizer investment was smaller at roughly US$140 million. Berkshire also picked up 2.4 million shares of T-Mobile stock and added to its holdings in Bank of America, Kroger and General Motors during the quarter. Bank of America remains Berkshire's second-largest investment, worth nearly US$28b.

Source: New Zealand Herald November 17, 2020 00:00 UTC