Warren Buffett’s Berkshire Hathaway NYSE: BRK.B just revealed its highly anticipated buys and sells of Q2 2025. Understandably, all the focus is on the Oracle of Omaha’s purchase of more than 5 million shares in UnitedHealth Group NYSE: UNH. The world’s most valuable healthcare provider and services stock was down as much as 48% from Mar. 31 to June 30, and Buffett took advantage.
However, UNH was far from the only interesting move Berkshire made in Q2. Below, we will dive into the plethora of other new positions, sellouts, trims, and additions that took place.
Notable New Positions: Berkshire Moves Into Steel and Home Builders
Lennar Today
- 52-Week Range
- $98.42
▼
$193.80
- Dividend Yield
- 1.51%
- P/E Ratio
- 10.94
- Price Target
- $128.85
In Q2, Berkshire revealed that it initiated positions in two of America’s biggest homebuilders, Lennar NYSE: LEN and D.R. Horton NYSE: DHI.
It also bought the United States’ largest steel producer, Nucor NYSE: NUE. All of these positions were technically initiated in Q1.
However, Berkshire requested to receive “confidential treatment” from the SEC in Q1 and did not reveal these holdings at the time.
Overall, as of June 30, the firm’s positions in these stocks were as follows:
- LEN: Approximately 7 million Class A shares, worth $780 million. Berkshire also holds around $19 million in Class B shares.
- DHI: Approximately 1.5 million shares, worth $191 million
- NUE: Approximately 6.6 million shares, worth $857 million
All of these names have provided positive total returns in 2025. D.R. Horton’s big earnings beat in July has helped kick off a significant rally in homebuilding stocks over the past month or so. Nucor has also benefited big-time from steel tariffs. The stock has recovered from being down 11% in early April to up 25% as of the Aug. 15 close.
Berkshire Takes Gains on T-Mobile, Its Telecom Market-Beater
T-Mobile US Today
- 52-Week Range
- $192.61
▼
$276.49
- Dividend Yield
- 1.38%
- P/E Ratio
- 24.09
- Price Target
- $256.31
Berkshire made just one full exit in Q2—T-Mobile US NASDAQ: TMUS.
The firm closed out its entire $1 billion stake in the wireless carrier, a move that looks more like profit-taking than a lack of confidence.
Berkshire first invested in T-Mobile in Q3 2020, and the bet paid off handsomely.
Over the holding period, shares delivered a total return of roughly 114%, handily outpacing the S&P 500’s 97% gain and leaving rival telecom stocks in the dust.
For Berkshire, the sale likely locks in years of outperformance from one of the strongest names in the sector.
AAPL and CHTR Get Reduced
Apple Today
- 52-Week Range
- $169.21
▼
$260.10
- Dividend Yield
- 0.45%
- P/E Ratio
- 35.01
- Price Target
- $237.60
Berkshire reduced its shares of Apple NASDAQ: AAPL by nearly 7%, the first time the firm lowered its stake since Q3 2024.
This comes even though Apple shares were down as much as 22% in Q2 and ended the quarter down more than 7%.
With Berkshire selling on the dip rather than buying, this certainly isn’t the most encouraging sign for Apple stock.
Still, Apple remains by far Berkshire’s largest position at over $57 billion as of June 30.
Interestingly, Berkshire’s shares held in Charter Communications NASDAQ: CHTR dropped by over 46%. Since initiating a position in Q2 2016, Charter shares have returned only 79% through Q2 2025. That’s less than one-third of the S&P 500’s 242% return over that period.
This shows that even Buffett isn’t immune to making bets that underperform. Still, the firm has consistently reduced its position in Charter over the years. It owns only around 12% of the number of shares today that it owned originally.
Buffett More Than Doubles Down on POOL
Pool Today
- 52-Week Range
- $282.22
▼
$395.60
- Dividend Yield
- 1.57%
- P/E Ratio
- 29.35
- Price Target
- $342.14
In terms of a percentage increase in shares held, Berkshire added most notably to its position in Pool NASDAQ: POOL.
Pool is the world’s largest wholesale distributor of swimming pool supplies and equipment.
From Q1 to Q2, Berkshire boosted its number of POOL shares from around 1.46 million to 3.46 million.
That’s a massive 137% increase. POOL shares fell as much as 10% in Q2, and Buffett was there to snatch up the stock in a big way.
What Buffett sees in this consumer discretionary name is up for debate. However, rising global temperatures and U.S. migration to hotter Southern states are notable tailwinds that could grow the swimming pool market over the coming years and decades.
Berkshire’s Near-Record Cash Position Looms Large
Overall, Berkshire’s Q2 moves provide interesting insights into where this investing titan has seen value in the market, with Lennar, Nucor, and Pool standing out.
However, Berkshire is still sitting on a near-record $344 billion in cash, showing that the firm isn’t chomping at the bit to invest in the current market.
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