Buffett's latest trend: Selling bank stocks in large quantities, Apple is still the largest holding!

**Source: National Business Daily**

According to a regulatory filing submitted to the U.S. Securities and Exchange Commission (SEC) on May 15 local time, Warren Buffett's Berkshire Hathaway reduced its holdings in Citigroup, Bank of America, and Capital One Financial in the first quarter. Its top holdings remain Apple, American Express, Coca-Cola, Bank of America, and Chevron.

**Trimming Bank Stocks, Doubling Beer Maker Stake**

The 13F filing revealed that Berkshire sold 14.64 million shares of Citigroup and 48.66 million shares of Bank of America—a reduction of over 7%. As of March 31, Berkshire still holds more than 631.5 million shares of Bank of America. The company also cut its stake in Capital One Financial by 300,000 shares, or about 4%.

Berkshire's biggest new purchase in Q1 was beer maker Constellation Brands, acquiring 6.38 million shares—a 113% increase—bringing its total holdings to 12.01 million shares. Additionally, Berkshire doubled its stake in pool equipment supplier Pool Corp.

Meanwhile, Berkshire exited its position in Nu Holdings, the operator of Brazilian digital bank Nubank, selling 40 million shares. It also halved its investment in Liberty Formula One to 3.5 million shares.

**Apple Remains Top Holding**

Apple continues to be Berkshire's largest single holding, with 300 million shares accounting for about 25% of its equity portfolio. Although Berkshire had previously reduced its Apple stake, the latest 13F shows no further sales in Q1. As of March 31, Berkshire's Apple holdings were valued at $66.6 billion. At Berkshire's annual shareholder meeting on May 2, Buffett praised Apple CEO Tim Cook's leadership.

Other major holdings include American Express, Coca-Cola, Bank of America, and Chevron.

Analysts note that overall, Buffett and his investment managers, Todd Combs and Ted Weschler, made relatively few changes to the portfolio this quarter. Combs and Weschler jointly manage about 10% of Berkshire's stock investments, with Buffett overseeing the rest.

**Hillhouse’s HHLR Boosts Chinese Assets in Q1, Adds Multiple U.S.-Listed Chinese Stocks**

HHLR Advisors, Hillhouse Capital's independent secondary market investment arm, disclosed its Q1 2025 U.S. stock holdings. The 13F filing shows HHLR's portfolio value rose nearly 23% to $3.539 billion from $2.887 billion the previous quarter.

HHLR increased its exposure to Chinese assets, adding or raising stakes in nearly 20 U.S.-listed Chinese companies. New positions included Atour Lifestyle Group, Huazhu Group, Baidu, Yuchai International, Li Auto, Kanzhun (Boss Zhipin), and ECARX Holdings. It also boosted holdings in Futu Holdings, Pinduoduo, NetEase, KE Holdings, JD.com, Trip.com, and ZTO Express.

As of Q1 2025, HHLR's top 10 holdings were Pinduoduo, Alibaba, Futu Holdings, BeiGene, NetEase, KE Holdings, Legend Biotech, JD.com, Vipshop, and WNS Holdings—with nine being Chinese stocks. The firm trimmed its stakes in Alibaba and BeiGene.

**Soros Fund Bets Big on Nvidia and SpaceX Rival, Dumps Super Micro Computer**

The 13F filing for billionaire investor George Soros' fund revealed heavy investments in satellite maker AST SpaceMobile (a SpaceX competitor) and Nvidia, while selling off high-flying Super Micro Computer and other big tech stocks. The fund also disclosed new positions in JPMorgan Chase and bitcoin miner Cipher Mining.

**"Soros Ally" Druckenmiller Adds TSMC in Q1**

Stanley Druckenmiller’s Duquesne Family Office LLC initiated positions in DocuSign, CCC Intelligent Solutions, EQT, Caesars Entertainment, and Twilio.

It exited SLM Corp., U.S. Steel, Warner Bros. Discovery, and Vistra, while increasing stakes in Flutter Entertainment, TSMC, Insmed, Teva Pharmaceutical, and Eli Lilly. Top portfolio holdings included Natera, Teva, Coupang, Woodward, and Philip Morris.

**Third Point Adjusts "Magnificent Seven" Tech Bets: Exits Tesla and Meta, Boosts Nvidia**

Daniel Loeb’s hedge fund Third Point liquidated its Tesla and Meta Platforms holdings in Q1 and cut its Amazon stake by over 1 million shares to 2.35 million. However, it raised its position in AI chipmaker Nvidia and added Apollo Global, PG&E, U.S. Steel, and AT&T.

Its top five holdings were PG&E, Amazon, TSMC ADRs, Live Nation, and Telephone & Data.

Meanwhile, Michael Burry’s Scion Asset Management held only one stock at the end of Q1—570,200 shares of Estée Lauder.

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