**Warren Buffett Shifts Focus, Sells Citigroup Stake in Favor of Constellation Brands**

In a strategic shake-up, Warren Buffett’s Berkshire Hathaway has divested its stake in Citigroup and increased its investment in Constellation Brands, the company behind popular beers such as Modelo and Corona in the U.S. Berkshire's recent 13-F filing, which covers the first quarter of the year, disclosed these notable changes. The conglomerate’s stock portfolio saw a 3% decline, settling at $258.7 billion by the end of March.

Berkshire entirely exited its $1 billion position in Citigroup and also reduced its holdings in Bank of America and Capital One Financial by 7% and 4% respectively. Interestingly, it more than doubled its Constellation Brands shares from 5.6 million in the previous quarter to over 12 million, signaling a significant pivot towards the alcohol industry.

This move comes at a time when the consumption trends are shifting, with younger generations showing a preference for cannabis-infused beverages over traditional alcohol. Despite this, Buffett’s countercyclical investment approach often leads him to acquire undervalued stocks he believes will perform well over the long term.

Constellation Brands has seen a rise in demand for its Mexican beer, Modelo, largely due to its growing popularity among the Hispanic population in the U.S. This success was further bolstered after Bud Light faced backlash from its brief association with trans influencer Dylan Mulvaney in 2023.

While Constellation Brands did not provide a comment on this new investment, and Citigroup refrained from issuing a statement, Buffett continues to be a prominent figure in the investment world. Known as the "Oracle of Omaha,” his investment strategies are often guided by the principle of buying when others are selling.

Apart from this shift, Buffett has also been directing substantial resources into short-dated Treasury bills, with JPMorgan estimating Berkshire holds around $314 billion in this secure asset class. This strategic allocation underscores Buffett’s approach to navigating the current high-interest rate environment.

Moreover, with the recent passing of his long-time partner Charlie Munger in November, Buffett has announced his decision to step down, citing his inability to keep pace with younger successor Greg Abel. As Buffett reflects on his decades-long career, his recent moves reinforce his legacy of strategic and often contrarian investment choices.