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Warren Buffett’s Berkshire Hathaway has fully exited its stake in Nubank, pocketing a $250 million profit as the legendary investor continues pulling back from financial stocks and bulking up on cash.
A regulatory filing with the U.S. Securities and Exchange Commission on Wednesday confirmed that Berkshire liquidated its remaining shares in Nu Holdings, Nubank’s parent company, during the first quarter of 2025.
Buffett’s departure comes despite strong financial performance from Nu, which posted record profits in 2024 and Q1 2025. The digital lender reported a Q1 net income of $557.2 million, up 47% year-on-year, with annual profits for 2024 reaching $1.97 billion—a 91% increase from 2023.
The decision to divest appears to reflect strategic repositioning rather than performance concerns. Berkshire began offloading shares in mid-2024, selling tranches at average prices ranging from $13.46 to $11.83 per share, ultimately realizing a $250 million gain on its original investment.
The move aligns with Berkshire’s broader financial sector exit. In the first quarter of 2025 alone, the firm also sold its stake in Citigroup and trimmed its holdings in Bank of America, reducing its exposure to large banks by over $2.1 billion. Berkshire’s cash reserves climbed to a record $347.8 billion, with over $305 billion parked in short-term U.S. Treasurys.
Nubank, one of Latin America’s largest digital banks, has been a notable outlier in Buffett’s portfolio due to its pro-crypto stance. The Brazilian neobank also allocated 1% of its net assets to Bitcoin, indirectly linking Buffett—who once dubbed the asset “rat poison squared”—to the crypto market.
While Buffett himself remains skeptical of digital currencies, Berkshire’s early bet on Nubank proved profitable. Still, the exit reflects growing conservatism as Berkshire pivots toward liquidity and defensive positioning amid uncertain macroeconomic conditions.
With Buffett’s full exit, Nubank is left to prove its staying power without backing from the Oracle of Omaha. So far, its numbers suggest it won’t be a problem.
