Warren Buffett is famous for his long-term approach to investing and for a relatively broad diversification of his holdings in the Berkshire Hathaway (BRK.A) (BRK.B) 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.
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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) 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 the SEC. Berkshire's stake is currently worth $1.11 billion.
Shares of Citigroup Inc (C) 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) 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) 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) 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) 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.
The S&P 500 fell 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.
