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Berkshire Hathaway buys more homebuilder stocks but slashes stakes in banks and dumps Constellation
Fortune • • business
Key Points:
- Berkshire Hathaway significantly increased its stake in Alphabet during Q2, acquiring approximately 48.1 million shares and raising its total to about 106 million shares valued at $37.76 billion as of June 30.
- The company expanded its investments in the U.S. homebuilding sector, increasing its stake in Lennar by nearly 30%, establishing a new position in D.R. Horton, and completing a $6.8 billion acquisition of Taylor Morrison in July.
- Berkshire also boosted holdings in Delta Air Lines and Macy’s, with stakes valued at $5.37 billion and $173 million respectively at the end of June.
- The firm reduced or exited positions in several companies, including Kroger, Nucor, DaVita, and completely divested its shares in Constellation Brands, while also trimming stakes in financial firms like Bank of America, Ally Financial, and Capital One Financial.
- Despite CEO Greg Abel's leadership, Berkshire Hathaway maintains its policy of not commenting on quarterly portfolio changes, continuing Warren Buffett's tradition of discretion regarding stock transactions.
