新建仓：0！巴菲特，最新曝光！

Core Viewpoint - Berkshire Hathaway, led by Warren Buffett, significantly reduced its financial stock holdings in the first quarter, completely exiting Citigroup while increasing positions in several consumer stocks. Notably, no new stock positions were established during this period [1][4]. Holdings Changes - Berkshire's top five holdings by market value are Apple (25.76%), American Express (15.77%), Coca-Cola (11.07%), Bank of America (10.19%), and Chevron (7.67%). Apart from reducing its stake in Bank of America, no changes were made to the other four companies [3]. - In terms of increased positions, Berkshire spent $1.17 billion to acquire 6.38 million shares of Constellation Brands (STZ), marking a 113.5% increase. Additional purchases included 2.308 million shares of Sirius XM Holdings, 760,000 shares of Occidental Petroleum, and 865,000 shares of Pool Corp [3][4]. Future Outlook - Despite a strong stock price performance, Berkshire's first-quarter results were underwhelming, with an investment loss of approximately $7.4 billion compared to $9.7 billion in the same period last year. Operating profit for the quarter was $9.641 billion, down about 14% from $11.222 billion in 2024 [6]. - As of the end of March, Berkshire's cash reserves reached a record high of $347 billion, indicating a defensive strategy in the current complex market environment. The company has been a net seller for ten consecutive quarters, having sold over $134 billion in stocks in 2024, primarily reducing its stakes in Apple and Bank of America [6][7]. - Following Buffett's announcement of stepping down as CEO by the end of the year, there are ongoing discussions about potential changes in Berkshire's investment style. However, Buffett reassured that he would remain involved in significant investment opportunities, while Greg Abel will take over the operational and capital allocation responsibilities, maintaining the company's long-standing value investment philosophy [8].