Berkshire Hathaway has initiated a new position in Constellation Brands, acquiring 5.62 million shares valued at roughly $1.24 billion at the end of the year. The purchase gives Warren Buffett’s firm an estimated 6.6% stake in the producer of Corona and Modelo, marking one of Berkshire’s few large new equity moves in recent quarters.
At the same time, Berkshire sharply reduced several major bank holdings. The firm cut its Citigroup position by about 74% to 14.6 million shares and trimmed its Bank of America stake to 680.2 million shares, a reduction of roughly 15%. These reallocations continue Berkshire’s trend of scaling back exposure to large financial institutions.
The portfolio shifts come as Berkshire maintains a highly defensive posture, holding a record-level cash reserve of about $325 billion. The combination of limited valuations and few compelling opportunities has led the firm to be selective, favoring resilient consumer businesses over cyclical financials.