Should you follow the latest movements in Buffett’s portfolio?

Warren Buffett’s recent regulatory filings are catnip for copycat investors. It reveals any quiet cuts, new positions and exits made by Berkshire Hathaway (BRK.A and BRK.B), of which Buffett is chairman and CEO. (Buffett has said he will step down as CEO late this year.) These market movements indicate how Berkshire Hathaway is dealing with the market today. But remember, 13F forms can be filed up to 45 days after the end of the quarter, and they only show US-listed long holdings. They omit cash, Treasuries, non-US stocks, and derivatives – so you’re seeing a partial delayed snapshot.

The correct lesson is not to copy indicators, but to understand the logic. If used well, Berkshire’s disclosures can sharpen your watch list and overall investment process.

What Berkshire actually did in 2025 (per latest SEC filings)

New and newly revealed purchases

• United Health (UNH): It initiated the purchase of approximately 5 million shares (market value: approximately $1.6 billion). This may indicate a contrarian bet by Buffett in the face of sector headwinds that the struggling health insurer is undervalued.
• Nucor (NUE): Nearly 6.6 million shares were newly disclosed following a previous secrecy request (which typically indicates Berkshire is still trying to add shares). The steelmaker is viewed as a cyclical cash generator with strong discipline.
• Lenar (Lin): Just over 7 million shares. Dr. Horton (DHI): About 1.5 million shares. Both point to a durable view of housing demand in the United States.
• Lamar Advertising Company (LAMR) and Allegion Company (ALLE): New, smaller positions expand exposure to asset-heavy cash flows and building security devices.

Added to existing positions

• Chevron (CVX): Increase the share. Energy remains Berkshire’s mainstay.
• Pool Corp (POOL), Constellation Brands (STZ), Heco (HEI), Domino’s (DPZ): Additional add-ons add to the perks of a fixed cash return.
• Sirius XM Holdings Inc. (SIRI). Classic value play, add to stake in stocks with a current 12-month dividend yield of around 4.7%, whose share price falls in 2024 and early 2025.

Decorations and exits

• Apple (Apple): She sold about 20 million shares (worth about $4 billion), but still retains about 280 million shares as Berkshire’s largest single holding. It is seen as a move taken largely to control risk and raise money for Berkshire Hathaway, rather than disavow Apple.
• Bank of America (BAC): Trimmed about 26 million shares, but it remains a core position.
• T-Mobile (TMUS): Completely out.
• Charter (CHTR): The cut is approximately 47%.
• VeriSign (VRSN): Sold approximately 33% of current position.
• DaVita (DVA): Reduction of approximately 5%.

(Sources: Berkshire’s Q2 2025 Form 13F, WhaleWisdom.com, and Contemporary Analytics; Q1 included confidential processing, with positions disclosed later in Q2.)

Why copying Berkshire can backfire

Berkshire has advantages that most investors lack, including size, float, and optionality. As of the second quarter of 2025, Berkshire reported nearly $244 billion in short-term U.S. Treasuries and about $100 billion in cash, generating significant risk-free income while waiting for trades. This liquidity allows Buffett to be patient and opportunistic without the pressures of performance. You probably don’t have an insurance float or a cash hoard of that size. So, similar individual position concentrations and withdrawals in your portfolio can have very different consequences.

There are also data gaps. The 13Fs show long positions listed in the US only; They eliminate cash, Treasuries, derivatives, short selling, and non-U.S. property. So Berkshire’s 13F doesn’t show you the full picture of Berkshire’s portfolio.

Berkshire also sometimes gets secret treatment from regulators while accumulating positions, meaning the public learns months later. A blind reversal could inadvertently leave you short of the liquidity needed for Berkshire’s next big deal.

And remember that the timing is late. SEC Form 13F arrives up to 45 days after the end of the quarter (second-quarter reporting was due on August 14), so individual stock prices and Berkshire Hathaway positions may have already moved. Use these disclosures to formulate research questions (for example, “How much is UNC worth on regular margins?”) rather than making fake trades the next day.

Should you follow Buffett? Berkshire’s latest purchases (UNH, Nucor, Lennar, DR Horton, Lamar, Allegion), sales (Apple, BAC) and complete exits (T-Mobile) paint a disciplined rotation from rich winners to strong cash engines. But because 13Fs are late and incomplete, and because Berkshire’s size and liquidity are unique, use these disclosures as starting points for your research, not matching orders.