Berkshire invests in UnitedHealth, trims Apple stake

Warren Buffett’s Berkshire Hathaway (BRKa.N), opens new tab disclosed on Thursday a new investment in UnitedHealth Group (UNH.N), opens new tab after the insurer became a target for many Americans upset over the direction of the nation’s healthcare. Berkshire said it owned 5.04 million UnitedHealth shares worth about $1.57 billion as of June 30.

The disclosure came in a U.S. Securities and Exchange Commission filing detailing Berkshire’s U.S.-listed common stock holdings as of June 30.

Buffett’s conglomerate also said it sold 20 million shares of iPhone maker Apple (AAPL.O), opens new tab in the second quarter, reducing its largest stock holding to 280 million shares, and cut back another major holding, Bank of America (BAC.N),
Berkshire also boosted its bet on home builders, revealing a new stake in DR Horton (DHI.N), opens new tab and significantly larger stake in Lennar (LEN.N), opens new tab.
The filing also disclosed new Berkshire investments in security products provider Allegion (ALLE.N), opens new tab, outdoor advertiser Lamar Advertising (LAMR.O), opens new tab and steel maker Nucor (NUE.N),

It is not clear whether Buffett, his portfolio managers Todd Combs and Ted Weschler, or future Chief Executive Greg Abel are behind individual purchases and sales. But stock prices often rise when Berkshire makes purchases because investors view them as a seal of approval from Buffett.

Source: Rueters