Warren Buffett’s Berkshire Hathaway has made significant changes to its investment portfolio, as disclosed in its recent 13-F filing. During the first quarter, the conglomerate sold off its entire holding of Citigroup, which amounted to more than 14.6 million shares. In addition to this, Berkshire reduced its stake in Bank of America by 48.6 million shares and cut its investments in Capital One by 300,000 shares. Furthermore, the firm divested all its shares in Brazilian fintech company Nu Holdings and also reduced its holdings in Liberty Media Series C Formula One and companies such as Charter Communications, DaVita, and T-Mobile.
On a more positive note, Berkshire Hathaway increased its investment in Constellation Brands, the parent company of Modelo, more than doubling its position to just over 12 million shares, contributing to a nearly 3% rise in the company’s stock during after-hours trading. The firm also acquired additional shares in Domino’s Pizza and Heico, while expanding its holdings in companies like VeriSign, Sirius XM, Pool Corp., and Occidental Petroleum.
Interestingly, despite having trimmed its stake in Apple last year, Berkshire made no changes to its position in the tech giant this quarter.
Berkshire Hathaway’s shares have faced some pressure following Buffett’s announcement of his impending retirement as CEO, with vice chair Greg Abel set to take over at the end of the year. Nevertheless, the company has seen a notable 12% increase in its stock value since the beginning of the year, outperforming the S&P 500, which has only risen by 0.6%.
These investment adjustments showcase Buffett’s strategic approach in navigating market conditions and aligning with promising growth areas, indicating optimism for the future of Berkshire Hathaway’s portfolio.