Warren Buffett, the legendary investor, made some significant moves in the fourth quarter of 2024, according to new SEC filings. One of the most notable transactions was Buffett’s decision to sell 117.4 million shares of Bank of America (BAC), amounting to approximately $5.5 billion. This move reduced Berkshire Hathaway’s stake in the financial giant to 8.9%.
In contrast to the divestment from Bank of America, Berkshire Hathaway added a new investment to its portfolio by acquiring about $1.2 billion worth of Constellation Brands (STZ) stock. Constellation Brands is a renowned producer of alcoholic beverages, known for brands like Corona and Modelo Especial. Buffett’s firm purchased 5.6 million shares of Constellation stock, signaling confidence in the company’s potential for growth.
Additionally, Berkshire Hathaway made other strategic investments in the fourth quarter. The firm bought approximately 12 million shares of Sirius XM (SIRI), a satellite radio provider, valued at around $325 million. Furthermore, Berkshire increased its stake in Domino’s Pizza (DPZ) by acquiring 1.1 million more shares, worth about $470 million.
Despite these new investments, Berkshire Hathaway continues to hold a substantial amount of cash, with a record $300 billion in reserves. This sizable cash position provides the firm with flexibility and liquidity to capitalize on investment opportunities as they arise.
As Buffett’s investment decisions continue to attract attention from market observers, it is clear that Berkshire Hathaway’s portfolio remains dynamic and responsive to evolving market conditions. Investors will be keen to see how these recent moves impact the firm’s performance in the coming quarters.
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