Warren Buffett's Berkshire Hathaway sold nearly $390 million worth of shares in Delta Air Lines and Southwest Airlines this week, new SEC filings show.
The billionaire investor's company cut its stake in Delta by nearly one-fifth and its Southwest holdings by just over 4%. Berkshire's stock portfolio took an estimated $5 billion hit on its airline holdings in the first quarter as the novel coronavirus hammered demand and led to travel restrictions.Warren Buffett's Berkshire Hathaway sold nearly $390 million worth of shares in Delta Air Lines and Southwest Airlines this week, reducing its exposure to an industry being hammered by the coronavirus pandemic.
The famed investor's conglomerate slashed its roughly 11% stake in Delta by nearly one-fifth, from 71.9 million shares to 58.9 million,Berkshire also sold about 2.3 million shares in Southwest, reducing its stake in the airline by just over 4%,It netted about $314 million from the Delta share sales, plus another $74 million from the Southwest disposals, for a total of about $389 million.
on its investments in the four major US airlines last quarter as they plunged by an average of 52% in the period.
will you plz connect me with smone I will be working for them for upto two years after completion of my degree they can pay for my Europe's eiteu masters program 24000 euro For more details please visit my profile Last date 15apr
I would like to auction off my kolesi, the British Royal Genuine Gun made from White Titanium made in 1795 made in Landon Country is very valuable and historic in the United Kingdom and if you are interested, you can contact mevia imail I'm hostingsuwondosuwundo490gmail.com
Luar biasa
One day...
depression is coming, be prepared.🦾
Loss
The market is waiting for him to jump back in......update, he's selling shares.😮
Feels like basically everything has gone wrong for WB since that HBO doc
nickchodge Makes sense
He has had them since the 1980's.
😳
Do as I do not as I say. Companies that need bailouts are usually not good investments, GM and Chrysler both had their equity go to 0. He didn’t sell it all so hopefully he doesn’t sell more and foresee further declines. buffett airlines markets
This article is so misleading it makes it seem like they are dumping the stock because the price dropped when really they are trimming to keep ownership at less than 10%
Warren and the Gateses are disgusting, their foundation and financial org’s avoid tax payments by making donations to for-profit business they have stocks in, wtf wrong with the IRS?
He will rebuy. Just waiting for it to go lower
hblodget Yawn.
He's about to short, no brainer and re-buy when it starts recovering
hblodget Windfall?!
It’s been said of the market, “It takes the escalator up. And elevator down.” Airlines will take a very long time to recover. To recover losses, all kinds of charges will be passed on to flyers.” It’ll be a very interesting 2 years after we recover from COVID19. If we do.
ericjackson At least. I think that’s just what he had to disclose for filing purposes
ericjackson Maybe he bought Exxon at 29
ericjackson $60 BILLION DOLLARS? Who do they think they are, Chelsea Clinton?
hblodget Typo in there $60 million not billion
He's giving it AWAY ANYWAYS with the gates foundation!!!!
$5 Billion haircut
hblodget This is who we're bailing out when we bailout the airlines, the world's 3rd richest person. We're saving his equity stake. (He still owns most of his shares. He may just be raising money for a bigger acquisition.)
No confidence
Same
Good 4 him
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »