In a striking shift from one of Wall Street’s most closely watched investors, Warren Buffett is once again making headlines, this time by dramatically reducing Berkshire Hathaway’s exposure to major U.S. banks.
According to newly released filings, Buffett’s firm dumped over $3.2 billion worth of shares in banking giants Citigroup, Bank of America, and Capital One during the first quarter of 2025. The move comes after previous exits from positions in JPMorgan Chase and Wells Fargo.
Berkshire Hathaway completely exited Citigroup, selling off nearly 15 million shares worth about $1 billion. The company also offloaded more than 48 million shares in Bank of America, reducing its stake in the bank by over $2 billion—although it still holds a substantial 631 million shares.
Buffett further scaled back on Capital One, shedding 300,000 shares worth nearly $46.5 million. And outside of U.S. banking, Berkshire fully divested its holdings in Brazilian fintech company Nu Holdings.
It’s not just banks feeling the shake-up. Berkshire also trimmed stakes in several other companies, including Charter Communications, DaVita, T-Mobile, and Formula One Group under Liberty Media.
But while Buffett is pulling back from traditional finance, he’s doubling down in other sectors. Berkshire boosted its investment in Constellation Brands, the beverage company behind Corona and Modelo, more than doubling its stake to over 12 million shares. New shares were also added in Domino’s Pizza, Heico, VeriSign, Sirius XM, Pool Corporation, and Occidental Petroleum.
Notably, Buffett’s massive stake in Apple remains unchanged, continuing to be one of Berkshire’s largest and most public holdings. Meanwhile, Berkshire’s cash reserves have surged to a record $350 billion, up from $334 billion at the end of 2024. The move reflects a cautious stance in a market filled with uncertainty and shifting interest rates.
Warren Buffett once said he likes to be “fearful when others are greedy.” And with this latest wave of selloffs and sky-high cash holdings, the Oracle of Omaha seems to be sending a clear message about where he sees value and where he doesn’t.
Reporting by Katy Moore.
