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People watch as Berkshire Hathaway chairman Warren Buffett is seen on a screen speaking at the Berkshire Hathaway annual shareholders’ meeting in Omaha, Nebraska, on May 3, 2025.
Brendan McDermid | Reuters
Warren Buffett’s Berkshire Hathaway revealed a new stake in troubled insurer UnitedHealth after secretly building the position for two quarters in a row, according to a regulatory filing.
The Omaha-based conglomerate bought more than 5 million shares in the health care firm for a stake worth about $1.6 billion at the end of June. The size is relatively small for Berkshire, whose equity portfolio is worth about $300 billion, so it could be the work of Buffett’s two investing lieutenants Todd Combs and Ted Weschler.
The insurer’s stock shot up 6% in extended trading following Berkshire’s disclosure.
Shares of UnitedHealthcare were down nearly 50% for 2025 through Thursday’s close before Buffett’s filing. The largest private health insurer has become the face of a public blowback in this country against the rising costs of health care. UnitedHealth is currently facing a Justice Department investigation into its Medicare billing practices. In May, it pulled its annual earnings outlook and CEO Andrew Witty stepped down.
There was much speculation about the mystery position before Thursday with many guessing it would be a defense name. The confidential treatment allowed Berkshire to quietly build up a position and limit price movement without stoking volatility.
UnitedHealth isn’t the only stock Berkshire picked up last quarter. In fact, the conglomerate also took small stakes in steel manufacturer Nucor, outdoor advertising company Lamar Advertising and security firm Allegion. Berkshire also got back into homebuilders Lennar and DR Horton.
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