Berkshire Hathaway 13F Preview: Did Buffett Trim Apple—And Will The Mystery Stock Be Revealed?

A history of beating the S&P 500 in recent years is on the line for Warren Buffett and Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK) with less than four months to go in 2025.

An upcoming 13F filing could signal where Berkshire Hathaway is looking for its next phase of growth and where some of the company's large cash holdings are being allocated.

Buffett's Q2 13F Filing

Berkshire Hathaway's second-quarter 13F is expected after Thursday's close, consistent with Buffett's habit of filing on the 45-day deadline.

The filing will show investors which stock positions Berkshire Hathaway decreased and increased in the quarter. The filing could also indicate whether Buffett and the Berkshire team invested in any new companies or completely exited from existing positions.

Investors are also looking forward to potentially hearing what Berkshire's mystery stock purchase in the past several quarters may be. Buffett previously requested confidentiality for the position he was creating. More on that below.

Berkshire Hathaway Q1 Recap

Before we get Thursday's Q2 13F, here's a look back at what was reported by Buffett and Berkshire Hathaway in their first quarter filing.

Berkshire Hathaway completely exited positions in Citigroup Inc (NYSE:C) and Nu Holdings (NYSE:NU) in the first quarter.

The company also decreased its holdings in the following stocks:

• Formula One (NASDAQ:FWONK): -48%
• T-Mobile US (NASDAQ:TMUS): -11%
• Bank of America (NYSE:BAC): -7%
• Capital One Financial (NYSE:COF): -4%
• DaVita Inc (NYSE:DVA): -3%
• Charter Communications (NASDAQ:CHTR): declined by less than 1%

The following were the positions that Berkshire Hathaway increased in the first quarter:

• Pool Corporation (NASDAQ:POOL): +14%
• Constellation Brands (NYSE:STZ): +114%
• Heico Corporation (NYSE:HEI): +11%
• Domino's Pizza (NASDAQ:DPZ): +10%
• Sirius XM Holdings (NASDAQ:SIRI): +2%
• Occidental Petroleum (NYSE:OXY): increased by less than 1%
• VeriSign Inc (NASDAQ:VRSN): increased by less than 1%

Read Also: Warren Buffett Buys Stock Of Company With $500 Million Howard Stern Decision To Make

What's Likely In Q2

Buffett and team have been decreasing their holdings in financials, and another decline in the Bank of America position is likely in the second quarter.

One of the biggest positions to watch will be Buffett's holding of Apple (NASDAQ:AAPL) stock, the largest stock in the Berkshire investment portfolio. After selling hundreds of millions of shares in recent years, Berkshire still owns 300 million shares. Apple stock has lagged the market this year and there is a chance that Berkshire sold some shares in the second quarter.

On the additions side, the recent quarters have seen heavy buying in new positions like Pool Corporation, Constellation Brands and Domino's Pizza. This trend will likely continue with the new 13F potentially revealing increased position sizes in each of the three or at least a couple.

Sirius XM is another stock to watch with reports already indicating that Buffett increased the investment in the satellite radio company in the second quarter. Berkshire owns around 35% of the company and it fits the mold of a Buffett investment.

Buffett's New Investment

Several times in the past, Buffett has asked the SEC for confidentiality when building a position in a stock over multiple quarters. This allows him to increase the position without tipping off investors and causing shares to spike.

Buffett previously did this with investments in Chubb Inc (NYSE:CB), Verizon Communications (NYSE:VZ) and Chevron Corporation (NYSE:CVX).

This is currently happening with Buffett buying shares of the mystery stock in recent quarters. The position size is estimated at around $4.8 billion, as reported by Barrons, and the stake may have grown in the second quarter.

Several clues suggest which sector the stock may belong to, but there are not many clues about the individual stock.

Based on increased position sizes by sector, the stock is most likely tied to the commercial, industrial and other category tracked by Berkshire Hathaway. Investors also know that if Berkshire had accumulated a 10% stake in the company, it would trigger the need for a Form 4, which means the stock has to have a market capitalization of more than $50 billion.

The categories tracked by this Berkshire sector include technology, healthcare, energy and industrials. Buffett has not been a huge fan of the technology and healthcare sectors in the past.

So while some investors hope Buffett has invested in UnitedHealthcare (NYSE:UNH), the stock is more likely to come from the industrials category.

Some potential stocks that could fit the Buffett investment strategy and the investment clues are:

• United Parcel Service (NYSE:UPS)
• FedEx Corporation (NYSE:FDX)
• Lockheed Martin (NYSE:LMT)
• Caterpillar (NYSE:CAT)
• GE Aerospace (NYSE:GE)
• RTX Corporation (NYSE:RTX)
• GE Vernova (NYSE:GEV)
• Boeing Inc (NYSE:BA)
• Deere & Company (NYSE:DE)
• CSX Corporation (NYSE:CSX)

The case for CSX Corporation may have increased after a recent report linked Berkshire to buying another railway business to strengthen its railway business, headlined by BNSF.

With a pending merger between two other railway companies, Berkshire could look to quickly make a move for CSX.

Read Next:

• Warren Buffett’s Big Bets: 10 Of Berkshire’s Largest Deals Reveal Diversification Strategy

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