Warren Buffett’s Berkshire Hathaway dumped much more financial institution shares within the first quarter, exiting Citigroup solely and promoting extra Financial institution of America shares. The Omaha-based conglomerate bought out of its Citigroup place by the tip of March, in accordance with a brand new regulatory submitting. The holding was value greater than $1 billion on the finish of 2024 and Berkshire had owned the inventory for the reason that first quarter of 2022. Berkshire trimmed its Financial institution of America stake for a 3rd straight quarter, bringing its guess to 631.6 million shares value greater than $26 billion. Even after the newest sale, the nation’s second-largest financial institution remains to be Berkshire’s fourth-largest fairness holding. In the meantime, Berkshire doubled its stake in beer-and-wine producer Constellation Manufacturers final quarter, growing the worth of the place to some $2.2 billion. Constellation, which Berkshire first invested in in the course of the fourth quarter of 2024, not too long ago got here underneath strain after President Donald Trump introduced steep tariffs on Mexican imports. Constellation imports all of its beer from Mexico, together with Modelo and Corona. Beer accounted for 86% of Constellation’s gross sales within the first half of its fiscal 12 months. The inventory is down about 14% this 12 months. Buffett is stepping down as CEO at Berkshire after an unmatched 60-year run . The 94-year-old is handing the reins over to Greg Abel at the beginning of 2026, though Buffett will stay chairman of the board.