Buffett has updated his stock portfolio — and the signs are clear.
It continues to sell strongly, has further increased cash and has eliminated emblematic positions, such as NUBANK and Citigroup.
- For the 11th time in a row, Buffett sold more than he bought.
There were about US$3.6 billion in sales and only US$2.2 billion in purchases.
In practice, this means he held an extra $1.4 billion in cash — a clear sign of caution.
- Two positions were eliminated from the portfolio:
– Citigroup ($C)
– Nubank ($NU)
In addition, it has sharply reduced other financial and media bets, such as:
– Bank of America (-7 .15 %)
– Liberty Media F1 (-48.36 %)
– T-Mobile (-10.73 %)
Buffett is clearly moving on from where he sees little upside.
- And what about the purchasing side?
Nothing new on the front. Literally.
Buffett did not add any new companies.
It only reinforced some existing positions, with highlights for:
– Pool Corp (+144 %)
– Constellation Brands (+113%)
– Domino's, SiriusXM, Occidental, HEICO, Verisign also rose modestly.
- The cash register is at a surreal level.
Estimates indicate that Berkshire already has more than US$350 billion in cash and short-term investments.
Just for comparison: this number has more than doubled since 2020.
Buffett is clearly waiting for the right time to strike.
- The portfolio concentration is impressive.
Despite the 36 stocks, 10 positions represent 89% of the portfolio.
Apple alone is more than 25%.
Buffett doesn't diversify for nothing—he focuses on what he has complete conviction about.
- Even with the departure of Citi and Nubank, the financial sector remains dominant.
After selling a large part of BofA and exiting smaller banks, the sector still occupies 35% of the portfolio.
It's part of Berkshire's DNA — even in a reduced version.
- Buffett continues to ignore market crazes.
– No betting on AI
– No chips
– No tech startups
The focus remains on companies with predictable cash flow, real products and little hype.
- The message behind the data is straightforward:
Buffett is not seeing good opportunities with the current asset price.
He would rather wait than force decisions in a market that looks expensive.
This behavior is not a one-off — it has been consistent since 2022.