Warren Buffett Sold Pharmaceutical Stocks in Q2

Warren Buffett, Chairman of Berkshire Hathaway
[Photo by Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] Berkshire Hathaway, led by Warren Buffett, was found to have net sold stocks mainly in pharmaceutical shares in the U.S. stock market during the second quarter.

According to AP News and others, Berkshire Hathaway disclosed on the 16th (local time) in its Q2 U.S. corporate equity change filing that it reduced its Biogen shares by $180 million (approximately 211.9 billion KRW) and cut stakes in pharmaceutical stocks such as AbbVie and Bristol-Myers Squibb. It also reduced holdings in Chevron, General Motors (GM), and US Bancorp, the parent company of US Bank.

On the other hand, it added about 11 million shares of Kroger, a large retailer it has been steadily buying recently. There were no changes in stakes of Apple and Bank of America (BoA), which are core investment targets of Berkshire Hathaway.

Berkshire Hathaway showed a net selling trend in stock investments this year, including net sales worth $1.1 billion (approximately 1.2955 trillion KRW) in the second quarter.

As of the end of June, Berkshire Hathaway's cash and cash equivalents holdings amounted to $144.1 billion (approximately 170 trillion KRW).

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