The second quarter was not kind to some of Wall Street’s best and brightest, and the period’s rough spots are likely to show up in a coming wave of securities filings.
Institutional investment managers have 45 days after the end of the prior calendar quarter to disclose their quarterly equity holdings. Some have already made these 13f filings; others often wait till the last minute, and these reports frequently show up after the regular trading session.
Warren Buffett’s Berkshire may show pain of buying GM shares in the first quarter.
Judging by the tepid performance of the stock market in the second quarter, many of the high-profile stocks in their portfolios are likely to have suffered.
The Dow Jones Industrial Average (^DJI) fell 2.5% in the three months ended June 29, while the S&P 500 (^GSPC) index slid 3.3% and the Nasdaq Composite (^IXIC) lost 5.1% for the quarter. Many individual stocks did a lot worse.
Warren Buffett, one of the most respected investors in the world, reported on May 15 that he bought 10 million shares of General Motors Co. (GM) in the first quarter. The stock tanked 23% in the second quarter to $19.72. Read related story on Buffett’s quarterly results.
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