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Investing.com -- Berkshire Hathaway has significantly increased its investment in Constellation Brands (NYSE:STZ), more than doubling its stake in the alcoholic beverage company during the first quarter of 2025.
According to a regulatory filing released Thursday, Warren Buffett’s conglomerate raised its holdings in Constellation to approximately 12 million shares, up from 5.6 million at the end of 2024.
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The position, now valued at $2.2 billion, gives Berkshire a 6.6% stake in the company.
Shares of Constellation Brands are up around 1.5% so far on Friday.
Meanwhile, Berkshire reduced its exposure to financials, exiting its stake in Citigroup (NYSE:C) and no longer reporting a position in the parent of Brazilian fintech Nubank.
The firm also cut back its holdings in Bank of America, now at 632 million shares, and trimmed its position in Capital One (NYSE:COF), which is in the process of acquiring Discover Financial.
Berkshire remained a net seller of equities for the 10th consecutive quarter, buying $3.18 billion and selling $4.68 billion in stocks between January and March. It ended the quarter with $347.7 billion in cash and equivalents.
The company’s largest holding remains Apple (NASDAQ:AAPL), with a 300 million share stake worth $66.6 billion.
While Buffett’s name is still on the filing, the stock pick may not be his. Earlier this month, he announced plans to step down as Berkshire CEO at the end of the year, handing over the reins to Vice-Chairman Greg Abel.
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