In a significant financial maneuver, Warren Buffett continues to strategically adjust Berkshire Hathaway’s investment portfolio. Recent SEC filings reveal that Buffett has sold a substantial portion of Berkshire Hathaway's stake in Bank of America (BAC). In the fourth quarter of 2024, Berkshire offloaded 117.4 million shares of BAC, valued at approximately $5.5 billion. This transaction has reduced Berkshire's stake in the financial giant to 8.9%.
As Berkshire Hathaway unloads Bank of America shares, it is simultaneously venturing into the alcoholic beverage sector. The firm has made a new investment in Constellation Brands (STZ), the producer known for popular beers such as Corona and Modelo Especial. By the end of the year, Berkshire accumulated around $1.2 billion worth of Constellation stock, acquiring 5.6 million shares.
Apart from its investment in Constellation Brands, Berkshire Hathaway has broadened its portfolio by purchasing approximately 12 million shares of Sirius XM (SIRI), a leading satellite radio provider. This investment is valued at about $325 million. Additionally, Berkshire acquired 1.1 million more shares of Domino’s Pizza (DPZ), worth around $470 million, showcasing Buffett’s diverse investment strategy.
Despite these strategic investments, Berkshire Hathaway continues to maintain a robust cash reserve. Currently, the firm is sitting on a record $300 billion in cash, providing significant financial flexibility for future opportunities.
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