Warren Buffett’s Berkshire Hathaway disclosed on Thursday a significant new investment in UnitedHealth Group, acquiring 5.04 million shares valued at approximately $1.57 billion as of June 30. The announcement, revealed in a U.S. Securities and Exchange Commission filing detailing Berkshire’s U.S.-listed stock holdings, sent UnitedHealth shares soaring 8.5% in after-hours trading. The investment comes as UnitedHealth has been under pressure this year from rising costs, a Department of Justice probe into its billing practices, a cyberattack, and the shooting death of former executive Brian Thompson last December.
Berkshire’s move into UnitedHealth highlights Buffett’s continued interest in healthcare, despite his long-standing criticism of high medical costs, which he has called a “tapeworm” on economic growth. Previous attempts by Buffett, JPMorgan Chase’s Jamie Dimon, and Amazon’s Jeff Bezos to reform healthcare through their joint venture Haven ended in 2021 after three years without success.
At the same time, Berkshire reduced its stake in Apple, selling 20 million shares during the second quarter and lowering its position to 280 million shares. This marks the first Apple sales since Q3 2024 and continues the gradual trimming of what was once a 905 million share holding. Berkshire also scaled back its investment in Bank of America. Despite these sales, Buffett’s move is not viewed as a full retreat from Apple, whose shares were little changed after hours.
Berkshire also expanded its footprint in homebuilding, taking a new stake in DR Horton and significantly increasing its position in Lennar. Additional new investments include Allegion, a security products provider; Lamar Advertising, an outdoor advertising firm; and Nucor, a major steelmaker. All five companies saw shares rise in after-hours trading following the SEC filing. Some of these purchases, including DR Horton, Lennar, and Nucor, had been made prior to April but were kept confidential under SEC rules to prevent other investors from piggybacking.
It remains unclear whether these individual trades were executed by Buffett, his portfolio managers Todd Combs and Ted Weschler, or incoming CEO Greg Abel. Nevertheless, Berkshire’s purchases often influence broader investor sentiment, as many market participants view Buffett’s investments as a seal of approval.
The SEC filing also highlighted other portfolio changes, including larger stakes in Chevron, Constellation Brands, and Domino’s Pizza, and the exit of its T-Mobile stake. Overall, Berkshire sold $3 billion more in stocks than it purchased between April and June, marking the 11th straight quarter it was a net seller of equities. As of June 30, the conglomerate held $344.1 billion in cash and equivalents.
Based in Omaha, Nebraska, Berkshire Hathaway owns nearly 200 businesses spanning insurance, railroads, energy, industrials, retail, and service companies, including Geico and BNSF Railway. Buffett, who will turn 95 on August 30, is expected to remain chairman after Abel, 63, becomes chief executive on January 1, 2026.
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