Buffett's Berkshire bets on Big Pharma, invests in four drugmakers By

Warren Buffett sells 36M Apple shares, picks up major drug stocks

Warren Buffett, CEO of Berkshire Hathaway Inc, in Omaha, Nebraska, May 6, 2018.

Warren Buffett's company has trimmed its huge stake in Apple and added new investments in several drugmakers while tweaking several other holdings in its stock portfolio.

In a regulatory filing detailing its USA -listed investments as of September 30, Berkshire disclosed new stakes in Abbvie Inc, Bristol-Myers Squibb (NYSE:) Co and Merck & Co of more than $1.8 billion each, and a new $136 million stake in Pfizer Inc.

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 on Monday also said it reduced its stake in JPMorgan Chase & Co by 95.6 per cent to 967,236 shares, and revealed a new US$276-million stake in wireless phone company T-Mobile US Inc.

Berkshire said Monday that it sold off 36.3 million Apple shares during the third quarter, but the iPhone maker remained Berkshire's biggest single investment worth almost $114 billion.

Berkshire officials don't typically comment on these quarterly stock filings.

Mr Buffett has since deployed cash in Japan and into natural gas assets, and bought back Berkshire shares. Berkshire also bought more stock in the grocer Kroger, sold some stock in mining company Barrick Gold, and confirmed it bought more Bank of America stock while trimming its Apple stake. Berkshire held 6.1 million shares of Snowflake at the end of the third quarter. As holdings in foreign investments that are held overseas, such as Berkshire's $5 billion stake in BYD Corporation, are not disclosed in the company's 13-F filing, it did not pick up the 5% stakes that the insurer took in each of five leading Japanese trading companies-Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo-which were worth around $6 billion on a combined basis at the end of last month. The conglomerate also owns furniture, shoe, jewelry, chocolate, manufacturing, brick and underwear companies.

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