Warren Buffett Likely Took $13 Billion Hit on 6 Stocks During Sell-Off

  • Warren Buffett’s Berkshire Hathaway likely saw $13 billion wiped off its top six stocks in one day.
  • Apple, Bank of America, American Express, Coca-Cola, Chevron, and Kraft Heinz all fell on Wednesday.
  • Those six positions made up 80% of Berkshire’s $364 billion US stock portfolio on March 31.

Warren Buffett likely took a $13 billion hit across only six stocks on Wednesday, as investors dumped equities in anticipation of further interest-rate hikes, stubbornly high inflation, and a potential



Buffett’s Berkshire Hathaway saw the value of its Apple stake tumble by $7.5 billion, as the iPhone maker’s stock price dropped nearly 6%. The investor’s company also saw $1.8 billion wiped off the value of its Coca-Cola holdings, as the soda giant’s stock slumped 7%.

Berkshire’s American Express, Bank of America, Kraft Heinz, and Chevron positions plunged in value by a combined $4.1 billion, as those four stocks fell between 2.6% and 9.5% each. Overall, the company’s six biggest positions shrunk in value by a combined $13.4 billion in a single day.

Those calculations are based on Berkshire’s latest portfolio disclosure, and assume Buffett and his team haven’t altered their holdings since March 31. It’s also worth emphasizing that Berkshire won’t realize those declines unless it sells shares at the reduced prices.

Buffett won’t be too worried about his portfolio bleeding, as he famously holds for the long term, and welcomes downturns as buying opportunities. Moreover, Berkshire has still made a fortune on its core holdings; it has quadrupled its money on Apple, more than doubled its money on Bank of America, and racked up 17-fold gains on American Express and Coca-Cola.

Berkshire more than quadrupled its Chevron holdings in the first quarter, and the energy stock surged by 39% in the period, lifting the value of its stake from $4.5 billion to nearly $26 billion. Yet it’s tricky to gauge the company’s exact gain on that position without knowing its entry point.

Kraft Heinz is the only laggard; Buffett has admitted overpaying for his stake in the food-and-condiments group, which is now worth less than what he paid for it.

Even if the blow to Berkshire’s holdings doesn’t last, the scale of Wednesday’s declines underscores the remarkable concentration of the conglomerate’s portfolio. Berkshire’s top six positions were worth a combined $289 billion on March 31, representing 80% of its $364 billion US stock portfolio.

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