Berkshire Hathaway has reduced its holdings in Apple for the second time in less than a year. A U.S. Securities and Exchange Commission filing shows the conglomerate sold 20 million Apple shares in the June quarter, cutting its position to 280 million shares valued at more than $64 billion. Despite the sale, Apple remains Berkshire’s largest stock holding.
Berkshire began building its Apple stake in 2016. At its peak in 2023, the company owned more than 915 million shares. Over the past two years, Buffett has gradually trimmed that position as part of a broader strategy to build cash reserves, which now exceed $344 billion. Buffett, who turns 95 later this month, announced he will retire as CEO at the end of 2025. Vice Chairman Greg Abel will take over in January 2026, while Buffett will remain chairman.
New Bet on UnitedHealth
In the same filing, Berkshire disclosed a new $1.57 billion investment in UnitedHealth Group, acquiring 5.04 million shares. The insurer’s stock jumped 8.5 percent in after-hours trading following the news. UnitedHealth has faced a difficult year, with its share price falling 46 percent due to rising costs, a federal probe into billing practices, a cyberattack, and the shooting death of a former top executive. Buffett has previously described high U.S. healthcare costs as a “tapeworm” on the economy.
The second-quarter filing also revealed Berkshire cut its stake in Bank of America and exited its position in T-Mobile. It increased holdings in Chevron, Constellation Brands, and Domino’s Pizza, and disclosed earlier confidential purchases in DR Horton, Lennar, and Nucor. Several of these stocks, including homebuilders DR Horton and Lennar, rose in after-hours trading.
Buffett’s Praise for Apple and Tim Cook
Buffett has often credited Apple CEO Tim Cook for the company’s growth, calling his appointment by Steve Jobs “the right decision.” Earlier this year, he said, “Tim Cook has made Berkshire a lot more money than I’ve ever made.” In response to Buffett’s retirement announcement, Cook called knowing Buffett one of the great privileges of his life and expressed confidence in Abel’s leadership.
