Berkshire Hathaway Sells All Shares in Nubank, Profits $250 Million
Berkshire Hathaway, led by famous investor Warren Buffett, made a profit of approximately $250 million by selling all its shares in Nu Holdings, the parent company of Brazil-based digital bank Nubank.
According to a filing with the U.S. Securities and Exchange Commission (SEC) on May 15, the company has completely terminated its position in Nubank.
According to the SEC filing, Berkshire sold 20.7 million shares in the third quarter at an average price of $13.46, starting with 40.2 million shares in 2024. Another 46.3 million shares were sold in the fourth quarter at an average price of $13.22. The remaining 40.2 million shares were sold in the first quarter of 2025 at an average price of $11.83, completing the transaction. The total sale generated a net gain of approximately $250 million.
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These sales come despite Nubank’s strong financial performance. The company reported net income of $557.2 million in the first quarter of 2025, up 47% from the previous year. Adjusted net income was $606.5 million. Through 2024, Nu Holdings had an annual net income of $1.97 billion, up 91% from the previous year.
Berkshire not only sold Nubank, but also all of its shares in Citigroup and reduced its holdings in Bank of America and Capital One. Citigroup sold 14.6 million shares, while Bank of America sold 48.7 million shares, reducing its stake in the company by 7%. Capital One was reduced by 300,000 shares (4%).
Nubank is among the most active digital banks in Brazil to embrace crypto services, offering direct trading of Bitcoin, Ethereum and XRP through its app.
*This is not investment advice.