Warren Buffett’s latest Berkshire Hathaway portfolio update for Q2 2025 offers investors a rare look into where the legendary investor and his team are putting fresh capital to work. The June 30, 2025, filing covers 41 holdings worth $257.52 billion. While Berkshire’s long-term core positions remain unchanged in many cases, the latest report shows a mix of significant increases to existing stakes, entirely new purchases, and current holdings that have already produced substantial gains since the reported purchase prices.
These moves provide insights into Buffett’s thinking today and highlight sectors and companies that align with his time-tested principles of owning quality businesses with durable competitive advantages.
Summary of His Portfolio Changes
Lennar Corp. (LEN) – Increased by 265.24%, purchased at $110.61, now $130.45 (+17.94%). Strong conviction in U.S. homebuilding.
Pool Corp. (POOL) – Increased by 136.26%, purchased at $291.48, now $326.09 (+11.87%). Leader in pool supplies and outdoor living products.
Nucor Corp. (NUE) – Increased by 14.90%, purchased at $129.54, now $144.35 (+11.43%). Major U.S. steel producer with stable cash flow.
Constellation Brands (STZ) – Increased by 11.58%, purchased at $162.68, now $169.51 (+4.20%). Strong beverage portfolio in beer, wine, and spirits.
HEICO Corp. (HEI.A) – Increased by 11.40%, purchased at $258.75, now $242.85 (-6.14%). Niche aerospace parts manufacturer.
Chevron Corp. (CVX) – Increased by 2.91%, purchased at $143.19, now $155.16 (+8.36%). Large energy holding with steady dividends.
UnitedHealth Group (UNH) – New buy, purchased at $311.97, now $271.49 (-12.98%). Leading U.S. healthcare provider and insurer.
Lamar Advertising (LAMR) – New buy, purchased at $121.36, now $121.22 (-0.12%). National leader in outdoor advertising.
Allegion Plc (ALLE) – New buy, purchased at $144.12, now $168.55 (+16.95%). Dominant security products company.
1. Buffett’s Freshest Conviction Buys in 2025
In Berkshire Hathaway’s world, a conviction buy is typically marked by a sizable percentage increase in an existing position. These increases suggest strong confidence in the company’s long-term prospects. The standout in Q2 2025 was Lennar Corp., a leading U.S. homebuilder, where Berkshire increased its stake by an extraordinary 265.24% to just over 7 million shares. Purchased at $110.61 and now trading at $130.45, Lennar has already gained 17.94% from Berkshire’s reported entry price. This move reinforces Buffett’s willingness to back housing-related businesses when valuations and market conditions align.
Pool Corp. also saw a dramatic increase of 136.26%. Known as the largest distributor of swimming pool supplies and outdoor living products, Pool fits Buffett’s preference for niche market leaders with pricing power. Berkshire paid $291.48 per share, and the stock now trades at $326.09, up 11.87%.
Nucor Corp., a major U.S. steel producer, had its position lifted by 14.90%, with shares bought at $129.54 and now worth $144.35, representing an 11.43% gain. Buffett has long favored domestic industrial companies that can generate steady cash flows and benefit from infrastructure demand.
Constellation Brands, owner of beer, wine, and spirits brands, was boosted by 11.58%. Purchased at $162.68, the stock has risen to $169.51, up 4.20%. HEICO Corp., a specialist aerospace parts manufacturer, saw an 11.40% increase, although its shares have dipped 6.14% since purchase. Finally, Chevron, one of Berkshire’s most significant energy holdings, was increased by 2.91%, with shares bought at $143.19 and now trading at $155.16, up 8.36%.
These additions show that Buffett bets on companies with strong moats, reliable earnings, and industries with structural demand even in a high-interest-rate environment.
2. The Largest Percentage Increases in His Portfolio
Looking purely at percentage growth in share count rather than dollar value gives another angle on Buffett’s priorities. Lennar’s 265.24% increase towers above the rest, showing a clear housing market conviction. Pool Corp.’s 136.26% increase underscores its interest in lifestyle-related consumer businesses with steady demand. Nucor’s 14.90% addition reinforces its belief in U.S. manufacturing strength, while Constellation Brands and HEICO, up more than 11% in position size, reflect targeted confidence in consumer and industrial niches.
Even Chevron’s 2.91% increase is notable given its size in Berkshire’s portfolio. For a large holding worth over $17 billion, even a slight percentage increase represents hundreds of millions of dollars in added exposure. In Buffett’s approach, these percentage changes often signal a long-term averaging-in strategy or a conviction-driven top-up when valuations are favorable.
3. New Positions Revealing a Shift in Strategy
Buffett isn’t known for frequently initiating new stock positions, so it’s worth paying attention when Berkshire adds a fresh name. Three new entries were made in Q2 2025.
UnitedHealth Group, one of the largest U.S. healthcare companies, entered the portfolio at a purchase price of $311.97 per share. The stock trades at $271.49, down 12.98% since the reported buy. While the initial performance is negative, the investment signals interest in the long-term potential of healthcare services and insurance in an aging population.
Lamar Advertising, purchased at $121.36 and now trading nearly flat at $121.22, is a major player in outdoor advertising. It has recurring local revenue, strong cash flow, and a history of surviving downturns.
Allegion Plc, acquired at $144.12 and now trading at $168.55, is up 16.95% since purchase. As a leading security products company, Allegion operates in a stable industry where brand trust and distribution networks create durable advantages.
These new positions collectively show Berkshire’s willingness to expand into sectors it hasn’t heavily emphasized recently, including healthcare, physical advertising, and building security solutions.
4. Current Biggest Winners Since Purchase
Beyond position changes, some of Berkshire’s holdings have posted notable gains since the reported purchase prices in Q2 2025. Liberty LiLAC Group C has surged from $6.22 to $7.72, an increase of 24.12%. Liberty LiLAC Group A has climbed from $6.10 to $7.56, up 23.93%. Both are part of Liberty’s international cable and broadband operations, which can offer recurring subscription revenue.
Lennar Corp. CL B, a smaller class of shares than the central LEN holding, has jumped from $105.25 to $123.32, a 17.17% gain. Allegion, also a new buy, has risen 16.95%, and Louisiana-Pacific Corp., a building materials company, has increased from $85.99 to $100.37, up 16.72%.
While short-term price moves aren’t Buffett’s primary focus, early gains in new or expanded positions can indicate well-timed entries and market validation of the underlying investment thesis.
Conclusion
Berkshire Hathaway’s Q2 2025 portfolio reveals aggressive increases in existing holdings, a few carefully chosen new positions, and several names already delivering strong returns since purchase. The largest conviction bets lean heavily toward housing, construction materials, industrials, and niche market leaders — sectors that benefit from long-term demand and competitive advantages.
The new positions in healthcare, advertising, and security products suggest Buffett and his investment team are open to strategic diversification when the right opportunities arise. The current biggest winners also show that certain businesses can deliver immediate upside even in a challenging macro environment when bought at attractive valuations.
For investors following Buffett’s moves, these holdings provide a window into the sectors and companies he currently favors. They reflect his consistency with his core principles and willingness to adapt when the opportunity is compelling.