Warren Buffett invested over $700 million in DR Horton in Q2

Legendary investor Warren Buffett loaded up on shares of homebuilders in the second quarter of this year, as per a regulatory filing on Tuesday.

Buffett made a big bet on DR Horton

His conglomerate Berkshire Hathaway Inc (NYSE: BRK.A) now owns well over $700 million worth of DR Horton Inc (NYSE: DHI) – about 5.97 million shares in total.

Note that Buffett built a position in that stock in the second quarter – a period in which higher rates weighed on his firm’s homebuilding and remodeling businesses. The said weakness, though, was partially offset by fewer existing homes and new construction activity, as per Berkshire Hathaway.

Last month, DR Horton reported market-beating results for its third financial quarter and raised its guidance for the full year. The stock is already up roughly 40% year-to-date.

What else did Warren Buffett buy and sell in Q2?

Other notable bets Buffett made on construction names in the second quarter include NVR of which he bought 11,112 shares and Lennar Corp in which he invested about $17.2 million.

But which of these calls were his own and which were from Ted Weschler and Todd Combs – the filing did not say.

Despite these buys, the influential investor who’s followed worldwide was a net seller of stocks in the second quarter as Invezz reported here. He put $4.6 billion to use but sold $12.6 billion worth of equities in Q2.

Among notable names he trimmed in the second quarter is General Motors. Apple remains Berkshire’s largest holding at $177.6 billion.