12 Stocks Warren Buffett's Berkshire Hathaway Has Been Loading Up On in 2025

Berkshire Hathaway was a net seller of stocks in the first half of 2025, primarily due to significant trims in its large Apple and Bank of America holdings. Despite this overall net selling, the conglomerate actively deployed capital in Q2 2025, adding six new positions, notably in homebuilding (Lennar, D.R. Horton) and healthcare (UnitedHealth Group), while also increasing stakes in six existing investments, including Chevron and Constellation Brands. This activity indicates a strategic portfolio rebalancing and reallocation of capital despite the headline net sales.

Analysis

Berkshire Hathaway's investment activity in the first half of 2025 indicates a strategic portfolio rebalancing rather than a broad bearish market view. While the firm was a net seller of equities, this was driven exclusively by the trimming of its two very large positions in Apple (AAPL) and Bank of America (BAC), a move likely aimed at managing concentration risk and realizing gains. In contrast, Berkshire was an active buyer, particularly in the second quarter, deploying significant capital into six new positions and adding to six existing ones. The most notable new investments include a $1.57 billion stake in UnitedHealth Group (UNH), signaling a strong conviction in the healthcare sector, and a focused entry into the homebuilding industry with positions in Lennar (LEN) for $780 million and D.R. Horton (DHI) for $191 million. Concurrently, Berkshire reinforced its bet on the energy sector by adding to its Chevron (CVX) stake, now valued at $17.5 billion, and continued to build positions in consumer names like Constellation Brands (STZ). This pattern of selling richly valued mega-caps while initiating or adding to positions in healthcare, housing, and energy suggests a deliberate rotation towards sectors where the firm identifies more compelling value propositions.

Key Decisions for Investors

• The headline 'net seller' status for Berkshire Hathaway is misleading; investors should focus on the underlying capital reallocation into sectors like healthcare (UNH), homebuilding (LEN, DHI), and energy (CVX) as a signal of where the firm sees current value.
• Berkshire's trimming of its Apple and Bank of America positions, confirmed by negative per-ticker sentiment signals, may warrant a review of these stocks by investors who have similar large, concentrated holdings, as it could indicate a perceived shift in their risk-reward profile.
• The establishment of new, significant stakes in UnitedHealth, Lennar, and Nucor, along with additions to Chevron, provides a high-conviction list of companies that merit further due diligence for those looking to mirror value-oriented strategies.
• Given the uncertainty of purchase timing within the quarter, investors should analyze the current valuations of these newly added stocks rather than buying indiscriminately, using Berkshire's activity as a starting point for independent research.