Benzinga - by AJ Fabino, Benzinga Staff Writer. Warren Buffett's Berkshire Hathaway introduced new stakes in D.R. Horton Inc, NVR Inc, and Lennar Corp last quarter according to a recent 13F filing
Did you notice the surge in some homebuilder stocks on Monday during the aftermarket session? The reason behind this jump is Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B). Let’s delve into the details.
Apple Inc (NASDAQ:AAPL), a favorite of Warren Buffett, continues to be Berkshire’s largest holding, valued at just over $177.5 billion, according to Berkshire’s latest 13F filing.
Last quarter, Berkshire introduced new stakes in D.R. Horton Inc (NYSE:DHI), NVR Inc (NYSE:NVR), and Lennar Corp (NYSE:LEN), With whispers of rising mortgage rates and potential repercussions, Berkshire’s decision to further invest in the U.S. housing market could signal that the market has reached its bottom.
It's not Berkshire's first dance with the housing market, either. Remember the acquisition of Clayton Homes two decades ago for $1.7 billion and its ongoing ownership of Benjamin Moore?
Buffett's Berkshire picked up nearly 6 million shares of DHI, 11,000 shares of NVR, and nearly 153,000 shares of Lennar.
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Investors should keep an eye on homebuilding ETFs like the SPDR S&P Homebuilders ETF (NYSE:XHB), and iShares US Home Construction ETF (BATS:ITB) in the coming weeks.
While the emphasis is on homebuilders, there’s also been a reshuffling of other equities.
Berkshire upped the ante in Capital One Financial Corp (NYSE:COF) by 25% and gave a nod to Occidental Petroleum Corp (NYSE:OXY) with a 5% increase. However, it wasn’t all additions; Activision Blizzard Inc (NASDAQ:ATVI) and Globe Life Inc (NYSE:GL) saw stakes reduced by 70% and 60%, respectively.
And, Berkshire completely exited its positions in Vitesse Energy Inc (NYSE:VTS), McKesson Corp (NYSE:MCK), and Marsh & McLennan Companies Inc (NYSE:MMC) this quarter.
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