Warren Buffett's Berkshire Hathaway may have racked up $80 billion in coronavirus losses on its 10 biggest investments
- Warren Buffett's Berkshire Hathaway may have racked up over $80 billion in losses across its 10 largest equity holdings as coronavirus hammered the stock market.
- Berkshire's stakes in Apple, Coca-Cola, Delta, and other household names fell in value by an average of 43% between February 20 and midday on March 23.
- The billionaire investor's conglomerate took a $27 billion hit on its Apple stock, and a $15 billion hit on Bank of America.
- The worst performer was Delta Air Lines, down 63%, while Kraft Heinz stock topped the list with a 22% decline.
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Warren Buffett's Berkshire Hathaway potentially stomached over $80 billion in losses across its 10 largest equity investments as coronavirus fears pounded markets. The raging pandemic - and concerns about the economic halt required to combat it - has eviscerated the value of its shares in Apple, Coca-Cola, Delta Air Lines, and other household names.
The famed investor's conglomerate saw an average share-price decline of 43% across its top 10 stocks between February 20 - when the coronavirus sell-off started - and midday on March 23. These calculations are based on Berkshire's last portfolio disclosure and assume it hasn't changed its positions since the end of December.
Apple's stock price plunged 32% in the 32-day period, cutting the value of Berkshire's 5.6% stake in the tech titan by about $27 billion. Shares in its second-biggest holding, Bank of America, dived 48% - erasing more than $15 billion of Berkshire's investment in the lender.
Berkshire's stakes in American Express, Wells Fargo, JPMorgan Chase, and US Bancorp tumbled in value by more than 43%. Coca-Cola and Moody's, down 37% and 39% respectively, weren't far behind. Delta trailed the pack as worldwide travel restrictions and concerns about flying drove its stock down 63%.
Buffett's Kraft Heinz investment, down 22%, was the best performer. Consumers stocking up on mac 'n' cheese and condiments as they face a prolonged lockdown may be shoring up the stock. Given that it's plummeted nearly 75% since the start of 2018, it also doesn't have much further to fall.
The combined value of Berkshire's 10 largest stock positions shrank to $124 billion from about $208 billion in just over a month - an $83 billion decline. Here's a chart showing the brutal impact of coronavirus on the portfolio:
