Berkshire Hathaway Boosts Stake in UnitedHealth Stock (UNH) and Cuts AAPL and Bank of America in Q2

Berkshire Hathaway's Q2 2025 13F filing revealed a significant new $1.6 billion stake in UnitedHealth Group (UNH), accumulated quietly and prompting a 10% after-hours surge in UNH shares. Concurrently, the conglomerate continued to strategically reduce its substantial Apple (AAPL) holding by selling another 20 million shares, exited T-Mobile (TMUS), and trimmed Bank of America (BAC). Berkshire also increased positions in Chevron (CVX), Lennar (LEN), and several smaller companies, reflecting a rebalancing within its $258 billion portfolio towards new sectors while maintaining confidence in core holdings like Coca-Cola and American Express.

Analysis

Berkshire Hathaway's Q2 2025 13F filing reveals a significant strategic rotation, highlighted by the initiation of a new $1.6 billion position in UnitedHealth Group (UNH) and a continued reduction in its Apple (AAPL) stake. The purchase of approximately 5 million UNH shares, which prompted a 10% after-hours surge in the stock, marks a major new bet on the healthcare sector. Concurrently, Berkshire sold another 20 million Apple shares and 26 million Bank of America (BAC) shares, reducing its holdings to $57.4 billion and $28 billion, respectively. This continues a divestment trend from its largest holding, with over 615 million Apple shares sold since Q3 2023. The firm also completely exited its T-Mobile (TMUS) position. Capital was redeployed not only into healthcare but also into energy and housing, with Berkshire adding 3 million shares to its Chevron (CVX) stake and 7 million to Lennar (LEN), alongside new smaller positions in D.R. Horton (DHI) and Allegion (ALLE). Despite these shifts and a slight decline in total portfolio value to $258 billion, core holdings in American Express (AXP) and Coca-Cola (KO) remained unchanged, signaling unwavering confidence in these long-term positions. The overall activity points to a deliberate rebalancing away from mega-cap tech concentration and towards perceived value in healthcare, energy, and housing-related sectors.

Key Decisions for Investors

• Investors should view Berkshire's substantial new stake in UnitedHealth as a strong institutional endorsement, warranting a closer look at the healthcare sector for potential long-term value.
• The continued, systematic reduction of the Apple position, while it remains the largest holding, suggests that investors may consider trimming exposure to manage concentration risk and realize gains, mirroring Berkshire's strategy.
• The increased investment in Chevron, Lennar, and D.R. Horton, coupled with the exit from T-Mobile, indicates a clear rotation towards energy and housing; investors should re-evaluate their own sector weightings in light of this institutional capital flow.
• The stability of core holdings like American Express and Coca-Cola reinforces their status as defensive, long-term compounders, suggesting that buy-and-hold investors should maintain conviction in similar high-quality businesses.