The Omaha-based conglomerate purchased greater than 5 million UnitedHealth shares in the course of the quarter, sending the top off as a lot as 9.6% in post-market buying and selling. The stake ranks as Berkshire’s 18th-largest fairness place, regardless of the insurer’s battered picture, its shares have been down practically 50% this yr earlier than the submitting, amid a Justice Division investigation into Medicare billing, a CEO resignation, and repeated revenue warnings.
Apple, BofA cuts; T-Cellular exit
Berkshire trimmed its Apple holding by about 20 million shares, lowering the stake’s worth by $9.2 billion in the course of the interval. Even after the minimize, Apple stays Berkshire’s largest fairness place by market worth.
The corporate additionally bought 26 million Financial institution of America shares, taking its stake to roughly 8%, and liquidated its $1 billion funding in T-Cellular US.
Different portfolio strikes
The submitting revealed Berkshire constructing positions in steelmaker Nucor and homebuilder Lennar, whereas promoting shares of D.R. Horton. Smaller stakes have been added in outside promoting firm Lamar Promoting and safety merchandise maker Allegion. A few of these modifications have been beforehand withheld from public view after the Securities and Change Fee granted Berkshire’s request for confidential remedy.
Buffett, who turns 95 this month and can step down as Berkshire’s chief govt at year-end, has lengthy criticized the U.S. healthcare system as a “tapeworm” on the economic system. Whereas Berkshire’s $300 billion fairness portfolio is broadly related to Buffett’s investing fashion, smaller and newer positions are sometimes attributed to his deputies, Todd Combs and Ted Weschler, although Buffett maintains remaining say over capital allocation.
Berkshire’s largest holdings on the finish of June remained Apple, American Specific, Financial institution of America, Coca-Cola and Chevron.Additionally learn | 5 shares Warren Buffett has invested in up to now this yr
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