What did Warren Buffett's Berkshire Hathaway buy in Q2 2025 13F, and do the moves reflect a new strategy or reaction to market changes?

Warren Buffett's Berkshire Hathaway made significant purchases in Q2 2025, reflecting a strategic shift in its investment approach. The following highlights the key buys and the implications of these moves on Berkshire's overall strategy: 1. **New Stakes in UnitedHealth and Nucor**: Berkshire Hathaway purchased over five million shares in UnitedHealth, worth approximately $1.6 billion. This move is part of a strategic pivot towards the healthcare sector, which is considered resilient and has inelastic demand. The investment in Nucor, a leading steel manufacturer, indicates a focus on the industrials sector, which is expected to benefit from infrastructure development and economic recovery. 2. **Increase in Pool Corp and Heico**: Berkshire Hathaway increased its holdings in Pool Corp, a distributor of swimming pool supplies, by 136%. This significant increase reflects a focus on companies with durable competitive advantages and predictable cash flows. The investment in Heico, a provider of insurance products, suggests a continued interest in specialty businesses with strong return on equity (ROE) potential. 3. **Trimming Apple and Other Holdings**: In contrast to these new purchases, Berkshire Hathaway reduced its stake in Apple, selling 20 million shares and trimming its holdings in Bank of America, DaVita, Charter Communications, and Coca-Cola. These reductions are likely a response to high valuations and sector headwinds, particularly in the technology and financial sectors. The decision to trim Apple's stake, which had previously accounted for 40% of the portfolio, reflects a broader skepticism toward tech's dominance in a slowing economy. 4. **Cash Buildup**: Berkshire Hathaway's cash reserves have ballooned to $344 billion as of June 2025, a 16.67% portfolio turnover in Q2. This liquidity is not a sign of stagnation but a strategic buffer, hedging against market corrections or internal reinvestment opportunities. In conclusion, Berkshire Hathaway's Q2 2025 13F filings reflect a strategic shift towards value investing and resilience. The additions of UnitedHealth and Nucor, along with increases in Pool Corp and Heico, signal a focus on companies with enduring competitive advantages and predictable cash flows. The trimming of Apple and other holdings, along with a significant cash buildup, suggest a hedging strategy in response to high valuations and sector headwinds. These moves underscore Berkshire Hathaway's disciplined approach to capital deployment, focusing on patience and a long-term perspective.