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Warren Buffett's Berkshire Hathaway sold nearly $390 million worth of Delta and Southwest shares this week

Posted On: 3 Apr 2020   |   Posted By: Business Insider

Warren Buffett's Berkshire Hathaway sold nearly $390 million worth of Delta and Southwest shares this week

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 a 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.
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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 novel coronavirus pandemic.
The famed investor's conglomerate slashed its roughly 11% stake in Delta by nearly a fifth, from 71.9 million shares to 58.9 million, according to a Securities and Exchange filing published on Friday .
Berkshire also sold about 2.3 million shares in Southwest, reducing its stake in the airline by just...

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