Constellation Brands up 9.9% Premarket After Berkshire Hathaway Discloses Stake in it.

Warren Buffett’s Berkshire Hathaway Buys a Stake in Constellation Brands

With institutional investment managers filing 13-F filings to disclose fund holdings at the end of Q4, Warren Buffett’s investment giant Berkshire Hathaway revealed a notable stake in Constellation among the company’s other trades. The company has acquired around 5.6 million shares in Constellation during Q4, making the position worth around $1.24 billion at the end of Q4. Of Berkshire Hathaway’s holdings in publicly traded stocks, the new stake in Constellation is the 19th largest, worth 0.5% of the company’s combined portfolio. The stake represents around 3% of Constellation’s outstanding shares.

Interestingly, Constellation isn’t Berkshire Hathaway’s only position in an alcohol producer. Berkshire Hathaway previously bought a stake in major alcohol conglomerate Diageo (DEO) in Q1 of 2023, which the company has since held on to. Notably, though, Berkshire Hathaway seems to hold much better conviction in Constellation – the stake in Diageo is only worth $29 million.