Which Stocks Did Warren Buffett Buy and Sell In Q3?
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Warren Buffett added six new positions
In the third quarter of 2020, Berkshire Hathaway surprised investors and added multiple pharma companies to its portfolio. Warren Buffett has historically shied away from the pharma sector. However, healthcare is one of the more defensive asset classes and is recession-proof. Further, it is also one of the hottest sectors amid the pandemic. Berkshire bought 3.7 million shares of Pfizer (PFE - Get Rating) which just announced the development of a COVID-19 vaccine with an efficacy rate of 95%.
The other new additions for Berkshire in Q3 were T-Mobile (TMUS - Get Rating) (2.4 million shares), Snowflake (SNOW - Get Rating) (6.12 million shares), Bristol-Myers Squibb (BMY - Get Rating) (29.9 million shares), Merck (MRK - Get Rating) (22.4 million shares), and another healthcare company in AbbVie (ABBV - Get Rating) (21.26 million shares).