Warren Buffett has officially ended his stake in one of Latin America’s most crypto-forward financial institutions. According to a May 15 filing with the U.S. Securities and Exchange Commission (SEC), Buffett’s Berkshire Hathaway has fully liquidated its position in Nu Holdings, the parent company of Brazil-based Nubank.
Berkshire Hathaway began reducing its 40.2 million shareholding in Nubank throughout 2024. In Q3, the firm offloaded approximately 20.7 million shares at an average of $13.46 per share, followed by the sale of 46.3 million shares in Q4 at $13.22. The final tranche of 40.2 million shares was sold in Q1 2025 at $11.83 each, generating an estimated total gain of $250 million.
Nu Holdings Posts Strong Financials Despite Warren Buffett Exit
Despite Buffett’s exit, Nu Holdings has shown robust performance. In Q1 2025, the digital bank reported a net income of $557.2 million, up 47% year-over-year. Its adjusted net income hit $606.5 million, a 37% increase from the previous year. For the full year 2024, Nu Holdings posted $1.97 billion in net income—a 91% surge compared to 2023.
The divestment appears to be less about Nu Holdings’ performance and more aligned with Berkshire Hathaway’s broader strategy. In the same quarter, the firm sold off its entire position in Citigroup and significantly reduced its Bank of America stake, shedding over $2.1 billion in financial sector holdings. This pivot pushed Berkshire’s cash reserves to a record $347.8 billion, with $305.5 billion parked in short-term U.S. Treasuries.
Nubank’s Crypto Push in Brazil
Nubank has emerged as a leader in Brazil’s crypto banking scene. The neobank offers direct trading in Bitcoin, Ether, XRP, and other leading cryptocurrencies via its mobile platform. Its crypto integration has positioned it as a prominent player in Latin America’s digital finance ecosystem—making Buffett’s departure particularly notable given his long-standing aversion to crypto assets.
