Warren Buffett’s Berkshire Hathaway continued selling its big Bank of America stake in the fourth quarter, while the conglomerate added a new holding in Constellation Brands . Berkshire offloaded more than 117,000 of Bank of America shares last quarter, owning a 8.9% stake worth just below $30 billion at the end of 2024, according to a new regulatory filing. Buffett started a selling spree in July after his view on the industry turned pessimistic following 2023’s banking crisis. Some analysts have speculated that he is selling down shares of the bank after the lender’s stellar fourth-quarter earnings report did little to boost the stock. Bank of America was not the only bank stock Berkshire sold last quarter. The conglomerate also shed more than 70% of its Citigroup stake, while trimming 18% of its Capital One Financial holding. New booze stock Also during the fourth quarter, Berkshire built a relatively small stake in booze stock Constellation Brands. The filing showed the conglomerate owned 5.6 million shares at the end of 2024, worth $1.2 billion. Shares of Constellation Brands jumped more than 6% after the disclosure of Berkshire’s new bet. The alcohol name came under pressure lately as President Donald Trump’s steep tariffs on Mexican imports could hurt the brewer significantly. Constellation imports all of its beer from Mexico, including Modelo and Corona. Beer accounted for 86% of Constellation’s sales in the first half of its fiscal year. The stock is down 26% this year.
