×

Apple, Teva rip higher on Buffett's Berkshire investments

  • Warren Buffett's Berkshire Hathaway disclosed Wednesday a new stake in Teva Pharmaceutical worth $358 million at the end of December, according to a regulatory filing.
  • The filing also shows Berkshire increased its holdings of Apple by 23.3 percent.
  • One of Berkshire's investment deputies — the billionaire investor has declined to identify him — was responsible for the conglomerate's initial stake in Apple in 2016, and Buffett has added to it since then.

The Oracle of Omaha still has a touch for stocks.

Teva Pharmaceutical climbed more than 10.5 percent Thursday morning after news late Wednesday that Warren Buffett's Berkshire Hathaway disclosed a $358 million stake in the drugmaker as of the end of the fourth quarter.

The quarterly filing also showed Berkshire increased its holdings of Apple by 23.3 percent. Shares of the iPhone maker rose more than 2 percent in morning trading.

The purchase shows the influence of Buffett's investment deputies, Berkshire portfolio managers Todd Combs and Ted Weschler. One of them — the billionaire investor has declined to identify which — was responsible for the conglomerate's initial stake in Apple in 2016, and Buffett has added to it since then.

As of Wednesday's close, Apple shares have fallen 1.1 percent this year but are up 23.5 percent over the last 12 months. Shares of Teva are up 2 percent so far this year and down 47.4 percent since last February.

The 87-year-old Buffett is chairman of Berkshire Hathaway, and his business partner is 93-year-old vice chairman Charlie Munger. The conglomerate's many subsidiaries include Duracell, Kraft Heinz and Geico.

In January, Berkshire announced the appointment of two new vice chairs, Gregory Abel and Ajit Jain. Buffett said on CNBC that the move is "part of a movement to succession over time." But the investor said the news had nothing to do with a change in his health.

— CNBC's Liz Moyer, Matthew J. Belvedere and Berkeley Lovelace Jr. contributed to this report.