Buffett's Latest Portfolio Moves, and Another Secret Stock

Warren Buffett's latest 13F filing for Q1 2025 is out, and once again, investors are combing through Berkshire Hathaway’s (NYSE: BRK.B) moves for clues.

This latest snapshot comes at a historic moment: Buffett has officially announced he’ll be stepping down as CEO by year-end, handing over the reins to Greg Abel. It’s the end of an era and the start of a new chapter.

The filing reveals no new public stock positions…yet. The Oracle of Omaha has once again used a confidential filing designation to build a mystery stake, something he last did in 2023 while secretly accumulating shares of Chubb Limited (NYSE: CB).

This has reignited speculation about what Berkshire’s next big reveal could be.

No New Buys, But a Secret Stock in Play

Despite Berkshire's cash pile nearing record levels, Buffett didn’t initiate any publicly disclosed new positions in Q1. This aligns with his cautious stance amid elevated valuations. However, Berkshire did use the SEC’s confidential treatment request to mask a new position in progress, suggesting that something potentially big is brewing behind the scenes.

Doubling Down on Conviction Buys

Berkshire used the quarter to add to several existing positions:

Pool Corporation (NASDAQ: POOL): Berkshire increased its position in the pool giant during Q1 by 145%, a bold bet on the housing and consumer sector name. While the increase is notable, Pool is still only the 26th-largest holding in the portfolio.

Constellation Brands (NYSE: STZ): Berkshire doubled down with a 113% increase, bringing the position to 12 million shares worth $2.2 billion, showing firm conviction in its beer and beverage brands.

Sirius XM Holdings (NASDAQ: SIRI): Despite a sharp stock drop in 2024, Berkshire has continued to add to its SIRI position. The company added another 3.72%, underscoring confidence in the company's long-term prospects.

Heico Corp (NYSE: HEI): A modest bump in shares highlights growing interest in aerospace and defense tech. Berkshire increased its position quarter over quarter to 1.16 million shares, up from 1.05 million.

Occidental Petroleum (NYSE: OXY): A slight 0.29% increase pushes Berkshire’s total to 265 million shares worth $13.1 billion, reinforcing long-term confidence in the company and its management.

Verisign (NASDAQ: VRSN): A 0.14% addition continues Buffett’s quiet build-up in the domain infrastructure business. Berkshire increased its position to 13.29 million shares from 13.27 million in the previous quarter.

Trimming and Exiting Financials

Buffett pared back multiple financial stocks in Q1, continuing a trend that began in 2024:

Bank of America (NYSE: BAC): Berkshire trimmed its position from 680.2 million to 631.5 million shares as part of a larger de-risking move in banking.

Capital One Financial (NYSE: COF): Slightly reduced to 7.15 million shares from 7.45 million as Buffett remains cautious on consumer credit risk.

Citigroup (NYSE: C): Berkshire exited entirely after holding 14.6 million shares last quarter.

Nu Holdings (NYSE: NU): Another complete exit of 40.2 million shares sold as Buffett retreats from fintech exposure.

Other trims include T-Mobile US, Inc. (NASDAQ: TMUS), which decreased to 3.88 million shares from 4.35 million, and DaVita Inc. (NYSE: DVA), which Berkshire slightly reduced to 35.14 million shares from 36.1 million.

The Oracle’s Final Chapter is Still Being Written

While Buffett is showing restraint on fresh buys, the confidential stock play and selective conviction increases show Berkshire is far from sitting idle. With Berkshire stock up 13% YTD, significantly outpacing the S&P 500, and a new mystery stock in play, it’s clear that the Oracle’s final chapter is still being written with precision. Investors would be wise to keep watching closely.

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