Warren Buffett is famous for his long-term approach to investing and for a relatively broaddiversificationof his holdings in the Berkshire Hathaway (BRK.A) -Get Free Report (BRK.B) -Get Free Report portfolio.
Still, the so-called Oracle of Omaha is not immune on days such as Monday, which saw financial stocks hammered amid the fallout from the collapse of Silicon Valley Bank.
Indeed, the five biggest decliners in Berkshire’s portfolio Monday were all financial names.
Buffett Banking Stocks Slide
Shares of Bank of New York Mellon Corp (BK) -Get Free Report fell 6.7% to $44.12. Bank of New York Mellon is the 22nd largest holding in Berkshire's portfolio, as of its last filing with theSEC. Berkshire's stake is currently worth $1.11 billion.
Shares of $Citigroup(C)$ -Get Free Report fell 7.45% to $44.74. Citigroup Inc. is the 12th largest holding in Berkshire's portfolio, as of its last filing with the SEC. Berkshire's stake is currently worth $2.47 billion. For more information on what Real Money columnists are saying about Citigroup Inc,please click here.
Shares of Jefferies Financial Group Inc. (JEF) -Get Free Report fell 7.7% to $30.48. Jefferies is the 46th largest holding in Berkshire's portfolio. Berkshire's stake is currently worth about $10 million.
Shares of US Bancorp (USB) -Get Free Report fell 10% to $36.54. It is the 36th largest holding in Berkshire's portfolio, as of its last filing with the SEC. Berkshire's stake is currently worth about $240 million. To find out more about what Real Money experts are saying about US Bancorp,please click here.
Shares of Ally Financial Inc (ALLY) -Get Free Report fell 10.7% to $23.05. Ally is the 29th largest holding in Berkshire's portfolio, as of its last filing with the SEC. Berkshire's stake is currently worth $690 million.
An Important Winner for Buffett
It wasn’t all bad news for Buffett.
Shares of Apple Inc (AAPL) -Get Free Report rose 1.33% to $150.47. Apple is by far the largest holding in Berkshire's portfolio. Berkshire's stake is currently worth $134.6 billion.
In the broader markets, U.S. stocks ended mixed.
The Dow Jones Industrial Average fell 90.50, or 0.28% to 31,819.14.
TheS&P 500fell 5.83, or 0.15% to 3,855.76. Losers outpaced winners 290 to 208 in the index. Within the S&P 500, health care stocks led, while financials, naturally, lagged.
The Nasdaq Composite rose 49.96, or 0.45% to 11,188.84.
source:thestreet
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