Apple accounts for most of the losses, with shares in the iPhone maker down about 18% so far in the second quarter to around $140. Considering that Berkshire Hathaway held more than 911 million shares of Apple at the end of the first quarter, Warren Buffett’s vehicle has seen more than $30 billion of value in his stake in the company evaporate.
However, in the long term, the tycoon’s favorite, the investment is being more than lucrative, since Apple shares have quadrupled their value from the average of $34 to those that were bought by Berkshire. Apple is also Buffett’s main investment, accounting for 39.8% of his portfolio.
Berkshire’s other big bet is Bank of America, representing 10.3% of its portfolio. The bank did not have a good second quarter either, with a cumulative drop of just over 20% to US$32. Taking into account that it controls more than 1,000 million shares, a 12.8% stake, the losses on paper in the last three months are around $10,000.
Behind are the holdings in Coca-Cola Co (7.8% of the portfolio) and Chevron (7.1% of the portfolio), which hardly changed this quarter. It was worse for him with his fifth biggest bet, the one he keeps in American Express. The financial entity fell more than 20%, so the 151.6 million shares that Buffett owns are worth about 6,000 million euros less than three months ago.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
