Buffett’s company cuts stake in pharmaceutical company and buys two new stakes

Omaha, Nebraska (AP) —Investor Warren Buffett’s company made two new investments in the third quarter, reducing its holdings in several pharmaceutical and financial companies.

Berkshire Hathaway Inc. renewed its shares by submitting it to the Securities and Exchange Commission quarterly on Monday. Due to Buffett’s successful track record over decades, the report has been carefully watched by many investors.

Based in Omaha, Nebraska, the latest holdings include a $ 475 million stake in Royalty Pharma, which invests in drug development to collect prescription drug royalties, and an additional $ 100 million. It said it included shares in the specialty flooring retailer Floor & Decor Holdings. ..

In addition to these two new investments and the move to increase investment in Chevron, all other Berkshire moves in the quarter have reduced investment in various companies. However, Buffett made no changes to Berkshire’s largest investment in Apple and Bank of America stocks.

Buffett and other Berkshire officials have not commented on these quarterly stock filings, and the report does not reveal whether either of the company’s other two investment managers was involved in the move. Hmm. Buffett typically handles all large investments worth more than $ 1 billion per Berkshire portfolio, including long-standing holdings of shares in Coca-Cola and American Express.

With Chevron, Berkshire bought about 5.6 million shares to rebuild some of the investment it had sold in the first half of this year, but Berkshire’s $ 2.9 billion investment in oil giants was delayed. It’s still smaller than the $ 4.1 billion Chevron stock it founded. last year.

In the third quarter, Berkshire was Merck and its spin-off, Organnon & Co. Sold the investment in. We also reduced our stake in pharmaceutical companies AbbVie and Bristol Myers Squibb. However, it maintained an investment of approximately $ 400 million in Teva Pharmaceuticals.

Berkshire also reduced its investment in Visa and Mastercard and reduced its stake in US Bancorp during the quarter.

In addition to the investment, Berkshire fully owns more than 90 companies, including BNSF Railway, Geico Insurance, and some major utilities. The conglomerate also owns a manufacturing, furniture, shoe, jewelry, chocolate, underwear and brick company.