Constellation Brands stock jumps as Buffett's Berkshire shows new investment

Warren Buffett's Berkshire Hathaway (NYSE: BRKa) holding company released its 13F for the quarter ended December 31, 2024, on Friday. The firm showed a new investment in Constellation Brands (NYSE: STZ), a major alcoholic beverage producer. According to a regulatory filing, Berkshire accumulated 5.62 million shares of Constellation Brands in the quarter, valued at $1.24 billion.

Shares of Constellation are up 6% after-hours Friday following the news after losing 25.8% year-to-date.

The fund also showed it trimmed its stakes in major banks Citigroup (NYSE: C) and Bank of America Corp (NYSE: BAC). The company reduced its Citigroup holdings by 74%, bringing its stake down to 14.6 million shares. Additionally, it cut its Bank of America position—previously its second-largest common stock holding—by 15% to 680.2 million shares.

Meanwhile, Berkshire appears to have paused its sell-off of Apple Inc (NASDAQ: AAPL) stock, holding steady at 300 million shares as of December 31, unchanged from its September 30 position. At the end of 2023, it owned 790 million shares of the iPhone maker.

Overnight, the fund showed it cut its stake in kidney dialysis provider DaVita HealthCare (NYSE: DVA) by about $32 million.

While the Berkshire 13F data is 45 days old, since Buffett is a 'buy and hold forever' type of investor, traders and investors often watch and follow his portfolio moves.

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