Airline stocks were knocked lower in morning trade Monday, after Warren Buffett said on CNBC earlier that his Berkshire Hathaway Inc. was unlikely to add much to its airline investments. The NYSE Arca Airline Index shed 0.4%. Among airlines Buffett had made significant investments in, shares of Delta Air Lines Inc. slid 1%, American Airlines Group Inc.’s stock dropped 0.9%, United Continental Holdings Inc. shares fell 0.7% and Southwest Airlines Co.’s stock lost 0.4%. Buffett also said, according to a WSJ report, that he didn’t want to own more than 10% of any airline stock. Berkshire was the largest shareholder in Delta, with 8.0% of the shares outstanding, and was also the the largest investor in United Continental with 9.1% of the shares. Berkshire owned 8.8% of American’s shares to be the second-largest shareholder, and was also the second-largest owner of Southwest’s stock at 7.0%. The airline index has gained 3.1% over the past three months, while the S&P 500 has tacked on 6.9%.
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