Warren Buffett’s Berkshire Hathaway bought more than 5 million shares in
UnitedHealth last quarter for a stake worth about $1.6 billion.
Warren Buffett’s Berkshire Hathaway reveals new stake in beleaguered insurer UnitedHealth
Warren Buffett’s Berkshire Hathaway revealed a new stake in troubled insurer UnitedHealth last quarter, according to a regulatory filing, a surprising buy because of the company’s current reputation, but perhaps not considering his history of bargain investing.
The Omaha-based conglomerate bought
more than 5 million shares in the health care firm for a stake worth
about $1.6 billion at the end of June.
- The stake puts it as the 18th biggest position in the Berkshire portfolio behind Amazon and Constellation Brands, according to VerityData.
Berkshire’s equity portfolio is worth about $300 billion, so it is possible that Buffett’s two investing lieutenants Todd Combs and Ted Weschler were more responsible for this purchase rather than the “Oracle of Omaha” himself. Buffett said one of his investment managers was behind the Amazon investment in 2019.
The insurer’s stock shot up 6% in extended trading following Berkshire’s disclosure.
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