- Warren Buffett’s Berkshire Hathaway made $ 10 billion from the four biggest holding shares in his stock portfolio on Monday.
- The billionaire investor’s company raked in $ 3 billion from each Apple, Bank of America and American Express, plus another $ 1.5 billion from Coca-Cola shares, after news of the COVID vaccine Pfizer’s promising 19-year-old caused an extensive market rally.
- Berkshire̵7;s bias towards finance, industry and consumer goods means it was hit hard by this year’s broad-based shutdowns, but its exposure to “the real economy”. boosted the portfolio significantly on Monday.
- The group’s stakes in JPMorgan, Wells Fargo, Visa, Mastercard and others also increased in value.
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Warren Buffett’s Berkshire Hathaway raked in $ 10 billion from the four largest holdings in his stock portfolio on Monday, when news of Pfizer’s effective COVID-19 vaccine raised their prices.
Apple shares rose 2.8%, bringing the value of about 981 million Berkshire shares in the tech giant to more than $ 3 billion. Berkshire’s number two holdings, Bank of America, have risen to 12%, generating an additional $ 3 billion in on-paper interest for the corporation.
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Shares of Coca-Cola rose 8%, bringing the value of Berkshire’s $ 400 million shares to $ 1.5 billion. In the end, American Express jumped 20 percent, adding another $ 3 billion to Berkshire’s profits.
With the exception of Apple, Berkshire’s portfolio of mostly financial, consumer goods and industrial stocks has all been hit hard by the pandemic. However, bets on its “real economy” rose on Monday, as investors wagered an effective vaccine that would revive the US economy and help traditional industries recover. .
Several other Berkshire shares also gained in value. For example, the company raised $ 400 million and $ 270 million respectively with the declining Wells Fargo and JPMorgan shares, as both bank shares rose about 10 percent. Berkshire’s stakes in Visa, Mastercard, Synchrony Financial and Suncor Energy also soared in value.