Warren Buffett's Berkshire Hathaway scores $10 billion gain on 4 stocks as Pfizer's vaccine sparks market surge
- Warren Buffett's
Berkshire Hathawayracked up a $10 billion gain across the four biggest holdings in its stock portfolio on Monday.
- The billionaire investor's company gained as much as $3 billion from each of
Apple, Bank of America, and American Express, plus another $1.5 billion from its Coca-Colashares, after news of Pfizer's promising COVID-19 vaccinesparked a broad market rally.
- Berkshire's bias towards financials, industrials, and consumer goods meant it was hit hard by widespread lockdowns this year, but its exposure to the "real economy" fueled significant portfolio gains on Monday.
- The conglomerate's stakes in JPMorgan, Wells Fargo, Visa, Mastercard, and other companies also jumped in value.
- Visit Business Insider's homepage for more stories.
Warren Buffett's Berkshire Hathaway scored a $10 billion gain from the four biggest holdings in its stock portfolio on Monday, as news of Pfizer's effective COVID-19 vaccine spiked their prices.Apple stock rose as much as 2.8%, boosting the value of Berkshire's roughly 981 million shares in the technology titan by more than $3 billion. Berkshire's number-two holding, Bank of America, climbed as much as 12%, generating another $3 billion in paper gains for the conglomerate.
Coca-Cola stock jumped as much as 8%, lifting the value of Berkshire's $400 million shares in the beverage behemoth by $1.5 billion. Finally, American Express soared by up to 20%, adding another $3 billion to Berkshire's gains.Excluding Apple, Berkshire's portfolio is dominated by financial, consumer-goods, and industrial
Several other Berkshire holdings rose in value too. For example, the company gained as much as $400 million and $270 million respectively on its diminished Wells Fargo and JPMorgan stakes, as both bank stocks jumped roughly 10%. Berkshire's stakes in Visa, Mastercard, Synchrony Financial, and Suncor Energy also soared in value.
- Here’s a tiny washing machine that cleans your TWS earbuds in two minutes
- 106-year-old woman in Madhya Pradesh gets her first COVID-19 vaccine
- Facebook's ad delivery system shows gender bias, says new study
- Check out the top 10 batsmen with the highest strike rate in all IPL matches
- Petrol pumps closed in Rajasthan as dealers demand rollback of VAT on fuel