Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) has initiated a stake in Constellation Brands (STZ), renowned for its beer and spirits production, during the last quarter of 2024, while also shedding its investment in Ulta Beauty (ULTA).

Following significant reductions throughout the year, Berkshire made no further adjustments to its Apple (AAPL) stake in the year’s final quarter, as confirmed by a recent Form 13-F filing. The tech giant remains Berkshire’s largest position, valued at over $75 billion, constituting around 28% of its total portfolio.

Form 13-F filings are quarterly reports giving a brief overview of the portfolios of major institutional investors at the end of each quarter. This specific report from Berkshire does not account for any transactions made after December nor does it provide details on any realized gains or losses from share sales.

New Investment in Constellation Brands; Additional Holdings in Domino’s and Occidental

Berkshire acquired 5.6 million shares of Constellation Brands, valued at $1.24 billion by year-end. Following the announcement of this investment, Constellation Brands’ stock surged over 6% in after-hours trading on Friday.

Holding a record cash position of approximately $320 billion, Buffett’s firm took the opportunity to invest, acquiring more than 12 million shares in satellite radio company SiriusXM (SIRI), alongside a modest increase in its holdings in VeriSign Inc (VRSN).

Berkshire substantially increased its ownership in Pool Corp. (POOL), raising it by nearly 50%, although the total remains a modest $200 million stake. Moreover, Berkshire added about 1.1 million shares to its investment in Domino’s Pizza (DPZ), effectively doubling its ownership to around 6.9%.

Over the last quarter of the previous year, Berkshire expanded its stake in Occidental Petroleum (OXY) with nearly 8.9 million additional shares. A recent filing this month indicated that Buffett further increased his holdings in February, bringing his total investment in the energy firm to 264.9 million shares.

Reductions and Significant Exits

Known for its long-haul investment approach, Buffett has recently opted to close certain short-term positions. The company fully exited its investment in Ulta Beauty (ULTA) after initiating the investment in the second quarter and subsequently liquidating over 96% of its shares in the third quarter.

Other notable exits included minor investments in the SPDR S&P 500 ETF Trust (SPY) and a Vanguard S&P 500 fund.

The sale of Berkshire’s shares in Bank of America (BAC) captured media attention last year, a trend that continued in the final quarter. Berkshire sold an additional 117 million shares, bringing its total stake to approximately 680 million shares, equating to nearly 9% ownership of the bank.

This trend of reducing financial investments persisted with Berkshire also divesting from Citigroup (C) by 40 million shares, 46 million shares in digital banking platform Nu Holdings (NU), and 1.65 million shares in Capital One (COF). The company also reduced its positions in Charter Communications (CHTR), T-Mobile US (TMUS), and Louisiana Pacific (LPX).

A separate report revealed that Berkshire decreased its position in DaVita Inc. (DVA) this year by selling approximately 200,000 shares, despite still holding a significant nearly 45% stake in the healthcare firm.