BiyaPay Analyst: Abandoning the U.S.? Buffett Slashes Bank Stocks in Q1, Apple Holds Steady as Top Position

Blockbeats
05-16

BlockBeats News, May 16th, Berkshire Hathaway's latest 13F filing showed that Buffett made significant changes to his bank stock holdings in the first quarter of 2024, completely exiting his position in Citigroup and reducing holdings in Bank of America and First Capital Credit, while increasing his stake in the alcohol giant Constellation Brands. Apple remains the largest holding.The filing revealed that Berkshire sold all its Citigroup holdings (approximately 14.64 million shares) and reduced its Bank of America holdings by 48.66 million shares (a decrease of over 7%), but still remains a significant shareholder in the bank (holding 631.5 million shares); First Capital Credit was also reduced by 300,000 shares. The market views this move as a reflection of cautious expectations for the banking industry's outlook.The consumer sector is a new focus, with Berkshire increasing its stake in Constellation Brands by 6.38 million shares, doubling its total holdings to 12 million shares. The company owns well-known beer brands such as Corona. The Apple position remained unchanged at 300 million shares, accounting for 25% of the portfolio, despite being reduced at the end of last year, with no further action taken this quarter.It is worth noting that Buffett has previously announced that he will step down as CEO at the end of the year, and his successor Greg Abel may gradually take over investment decisions. This portfolio adjustment may signal a positioning for the transition period. As of the end of March, Berkshire's total holdings amounted to $332 billion, an increase of approximately 5% compared to the previous period. The market's attention has shifted to the evolution of investment strategies in the "post-Buffett era."BiyaPay, as the world's first multi-asset trading wallet, demonstrates unique value by now enabling instant exchange between 30 fiat currencies and 200 digital currencies, allowing users to directly participate in the US/Hong Kong stock markets by exchanging USD with USDT at a 1:1 ratio, and enjoy zero fees for digital currency spot/contract trading on Maker.

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