We just learned about four new stocks Warren Buffett and Berkshire Hathaway added to their portfolio this year, and I think it gives us a pretty good look into how Buffett sees the economy shaping up. According to Benzinga, Berkshire has invested about $1.8 billion across key industries, with a clear focus on housing, infrastructure, and healthcare.
Here’s a breakdown of the four stocks Buffett has been buying.
1. Nucor (NUE)
Nucor is the largest steel producer in the U.S. and the biggest recycler of scrap in North America. Based in Charlotte, NC, they benefit directly from U.S. steel tariffs—right now, many countries are facing a 50% tariff on steel imports, which could give Nucor a huge advantage in the domestic market.
Performance snapshot:
- 6 months: +1.5%
- Year-to-date: +26.3%
- Past year: roughly flat
- 5 years: +223%
They also pay a modest dividend at 1.52%. With tariffs likely to stick around for the next few years, Nucor could see more growth and possibly new all-time highs. To me, this looks like Buffett betting on U.S. infrastructure and domestic production.
2. D.R. Horton (DHI)
Next up is D.R. Horton, one of the largest homebuilders in the United States. This is another play on housing and infrastructure.
Performance snapshot:
- Past 5 years: +115% (beating the S&P 500)
- Past year: –9%
- Year-to-date: +20%
- Last 6 months: +27%
- Last quarter: +34%
Financially, Q2 year-over-year numbers are down, but that doesn’t bother Buffett. He’s clearly taking the long-term view here, and housing demand in the U.S. remains strong despite short-term headwinds.
3. UnitedHealth Group (UNH)
This one surprised me. UnitedHealth has been through a lot of turbulence over the past two years—CEO scandals, high medical costs, Medicare investigations, even the tragic death of a CEO in 2024.
Performance snapshot:
- 5 years: –1.8%
- Past year: –46.7%
- Year-to-date: –38.9%
- Last 5 days (after Buffett’s buy was revealed): +21%
They still offer a 2.83% dividend yield, but this is a very controversial buy. On one hand, the stock has been crushed, so Buffett may see it as undervalued. On the other hand, there are serious legal and operational risks. This feels like a high-risk, high-reward play—even for Buffett.
4. Lennar Corp. (LEN)
Lastly, we have Lennar, the second-largest homebuilder in the U.S. behind D.R. Horton. This shows Buffett’s conviction in the housing market.
Performance snapshot:
- 5 years: +79%
- Past year: –19%
- Year-to-date: +5.7%
- Last quarter: +20%
Like D.R. Horton, Lennar’s recent quarterly numbers aren’t great (net income and EPS down more than 40% year-over-year). But with a 1.52% dividend and a low PE ratio, Buffett may be positioning for long-term growth once housing stabilizes.
My Take
Buffett’s 2025 moves seem to have a theme: betting on U.S. housing and infrastructure while making a contrarian gamble on healthcare.
- Nucor looks the most compelling to me because tariffs give it a clear advantage.
- D.R. Horton and Lennar show Buffett’s long-term faith in American housing.
- UnitedHealth is the wild card—possibly a brilliant value play, possibly a value trap.
Overall, Buffett appears to be playing defense while still looking for long-term upside. He’s steering toward sectors that are essential to the economy, even in turbulent times.
(This is not financial advice—just my personal analysis of what Warren Buffett’s been buying this year.)