The star investor is also withdrawing from pharmaceutical companies.
(Photo: AP)
Denver Star investor Warren Buffett continues to hold back from investing in the stock market. In the third quarter, he again only made small changes, according to a mandatory notification to the US Securities and Exchange Commission published on Monday evening after the market closed in New York.
Accordingly, the Berkshire Hathaway CEO cut his pharmaceutical investments: he cut the shares in Abbvie by 30 percent, and that in Bristol-Myers Squibb by 16 percent. He left the US company Merck entirely. Buffett is also withdrawing from the credit card companies Visa and Mastercard and reducing his stake by a good four and six percent.
On the other hand, Berkshire built new positions at two smaller companies. He bought shares valued at $ 475 million in the pharmaceutical company Royalty-Pharma, which finances expensive clinical studies and went public last summer. The share has lost around ten percent this year.
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