Business and Finance Business and Finance
Sat, February 15, 2025
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[ Sat, Feb 15th ] - Reuters
Berkshire takes swig of Modelo maker Constellation; cuts BofA, Citigroup

Berkshire takes swig of Modelo maker Constellation; cuts BofA, Citigroup


Published on 2025-02-15 14:00:50 - Reuters
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  • Warren Buffett's Berkshire Hathaway on Friday disclosed a new investment in alcoholic beverages producer Constellation Brands , and said it has reduced its holdings in four banks, including Citigroup and Bank of America .

Berkshire Hathaway, led by Warren Buffett, has significantly increased its stake in Constellation Brands, the maker of Corona beer and Modelo, by purchasing an additional 1.7 million shares, bringing its total to about 21.7 million shares. This move was detailed in a regulatory filing. Concurrently, Berkshire has reduced its investments in several major U.S. banks, including Bank of America, U.S. Bancorp, and BNY Mellon, reflecting a strategic shift in its portfolio. The company also completely exited its positions in D.R. Horton, StoneCo, and Markel Group. These changes were part of Berkshire's quarterly adjustments to its $354 billion equity portfolio, with the latest transactions reported as of December 31, 2024.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/berkshire-buys-constellation-brands-cuts-big-bank-holdings-2025-02-14/ ]
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