Buffett's latest stock holdings adjustment overview: The mystery behind the record-high cash reserves

Warren Buffett’s investment moves in the first quarter of this year have sparked widespread market discussion. According to the recently disclosed 13F report, this investment giant under Buffett chose to reduce rather than expand in Q1—selling off more than they bought, with a total reduction of 6 stocks, an increase in 7 stocks, and complete exit from 2 positions.

What Signals Are Revealed by the Portfolio Adjustment List

In this round of portfolio adjustments, the most notable is Buffett’s change in attitude toward traditional financial stocks. Bank of America (BAC) was significantly reduced, with a single sale of 48.66 million shares, while Citigroup © and Nu Holdings (NU) were completely cleared out. In contrast, the beer manufacturer Constellation Brands (STZ) saw a substantial increase, with a new purchase of 6.38 million shares.

This adjustment reflects the cautious attitude of veteran value investors toward the current market—interest in bank stocks is waning, while consumer staples companies are gaining more favor.

Industry Speculation Behind the Mysterious New Position

It is worth noting that Berkshire Hathaway has submitted a confidentiality request to the U.S. Securities and Exchange Commission (SEC), temporarily withholding information about one or more new investments. Industry analysts generally believe that this mysterious new position is likely part of a “business and industrial” portfolio, but the specific target remains a mystery.

Core Holdings Remain Stable

Despite frequent adjustments, Buffett’s core investment landscape remains unchanged. Apple (AAPL) continues to top the list, accounting for 25.76%; American Express (AXP) maintains its second-tier position; and Coca-Cola (KO) remains steady in third place. These three stocks together form the backbone of Berkshire Hathaway’s investment portfolio.

The Deeper Meaning Behind Cash Reserves Reaching New Highs

What is even more worth exploring is Berkshire’s cash and U.S. Treasury bond holdings. As of the end of this quarter, the combined total has reached $347.7 billion, setting a new record high. What does this massive cash reserve really signify? The market generally interprets it as: in the current volatile economic environment, this legendary investor is adopting a more conservative defensive stance, preferring to hold cash and wait for opportunities rather than rushing into large-scale investments.

This may be an implicit warning about future market risks.