Buffett Watch

Two stocks costing Buffett $500M this year

Matt Krantz
Warren Buffett
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Warren Buffett may have a magic touch with stocks, but two stocks have tarnished that touch for the year.

Two stocks that Buffett owns, Coca-Cola and Goldman Sachs, are completely missing out on the market's rally this year. Since Berkshire's holdings in those stocks are so massive, the declines sting that much worse. The holdings are based on the company's most recent quarterly filings with regulators.

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The biggest losing stock for Berkshire has been Coca-Cola. The stock is only down 1.4% this year, which may not sound all that bad. But Berkshire owns more than 400 million shares of the stock so the decline translates in a $236 million loss for the famous holding company.

Buffett's big mistakes
Buffett's big mistakes

But when it comes to the biggest direct hit Goldman Sachs is the sore spot. The stock is down nearly 11% this year, making it one of the worst stocks in the Dow Jones industrial average. Since Buffett owns 12.6 million shares, that's a $235.9 million hit.

These are the only stocks Buffett is down on this year, but the biggest hits. Other losers for Buffett include General Motors, down 16%, online security firm Verisign, down 16% and Wal-Mart, down 2.4%.

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And it's not all bad. Berkshire's most valuable holding, Wells Fargo Bank, is up nearly 13% this year. And while losing $500 million on two stocks in a year is a big hit to the rest of us, keep in mind that Buffett's portfolio of public holdings is worth more than $100 billion, so he'll live.

By Matt Krantz of USA Today