Berkshire Hathaway Sells Citigroup Stake, Boosts Consumer Stocks

Berkshire Hathaway's Q1 Portfolio Adjustments

• 🏦 Berkshire Hathaway significantly reduced its exposure to big banks during the first quarter, as per its latest 13F filing.
• 💸 The firm unloaded its entire billion-dollar stake in Citigroup and also decreased its holdings in Bank of America (BFA) by over 7% and Capital One by 4%.

Increased Investments in Consumer Sector

• 📈 In contrast to its bank divestments, Berkshire Hathaway doubled its stake in Constellation Brands and Pool Corp.
• 🥤 The company also increased its exposure to Domino's, suggesting a strategic shift towards consumer-focused companies.
• 📱 However, its stake in T-Mobile saw a decline of approximately 11% during the same quarter.

Stable Holdings and Leadership Transition

• 🍎 Notably, Berkshire Hathaway maintained its substantial $67 billion stake in Apple throughout the first three months of the year.
• 👑 The filing also comes as a reminder of Warren Buffett's planned CEO transition in December, with Greg Abel set to take over, while Buffett will continue as chairman.