Berkshire Hathaway Exits Citigroup, Doubles Constellation Stake

In the first quarter of 2025, Warren Buffett's Berkshire Hathaway made notable shifts in its investment portfolio, including fully exiting its position in Citigroup and reducing stakes in Bank of America and Capital One, reflecting a continued move away from big-bank shares. Concurrently, Berkshire more than doubled its stake in Constellation Brands, increasing its holding to about 12 million shares, representing a 6.6% stake in the company known for Corona and Modelo beer. Despite trimming bank holdings, Berkshire maintained major positions in Apple, American Express, Coca-Cola, Bank of America, and Chevron, with Apple remaining its largest single holding, comprising roughly 25% of the stock portfolio. The conglomerate's stock transactions resulted in net sales with $3.2 billion in purchases and $4.7 billion in sales, while cash and U.S. Treasury holdings reached a record $333 billion. Buffett, who is set to step down as CEO in 2026, has not disclosed which managers specifically made these trades. The increased investment in Constellation Brands comes amid challenges for the company, including tariffs on Mexican imports that have affected its beer sales.