Among the largest U.S insurers, State Farm Mutual Automobile Insurance Co. has the biggest healthcare equity portfolio, owning approximately $14.95 billion in healthcare-related stocks as of the end of 2019.
State Farm's biggest position was in Johnson & Johnson, which had a carrying value at $3.95 billion at Dec. 31, 2019, followed by Eli Lilly and Co. at $1.93 billion. The company also owns $1.75 billion in Zoetis Inc. stock and has a $1.67 billion position in pharmaceutical giant Pfizer Inc. In total, healthcare stocks made up 17.20% entire common equity investment portfolio.
Berkshire Hathaway Inc. was a distant second in this analysis, with a healthcare equity portfolio worth about $1.73 billion as of the end of last year.
When excluding State Farm's holdings, the most popular healthcare stocks to own were DaVita Inc.. and Johnson & Johnson. Other favorites included Merck & Co. Inc., Pfizer Inc. and AbbVie Inc.
State Farm's biggest holdings, Johnson & Johnson and Eli Lilly, are both higher on the year despite turmoil in the market amid the COVID-19 pandemic. The latter has performed particularly well, climbing more than 17.7% year-to-date through the April 30 close.