Warren Buffett's company invests in three homebuilders even as rates rise

Berkshire Hathaway, the conglomerate run by billionaire Warren Buffett, on Monday disclosed new investments in the homebuilders DR Horton, Lennar and NVR.

The investments were disclosed in a regulatory filing that detailed Berkshire's U.S.-listed stock holdings, which comprise most of its $353.4 billion equity portfolio, as of June 30.

All were made during the second quarter, a down period for Berkshire's homebuilding and remodeling businesses such as Clayton Homes, Benjamin Moore paint and Johns Manville insulation as rising interest and mortgage rates slowed demand.

But Berkshire said those effects have been partially offset by new construction activity resulting from low inventory of existing homes for sale, an environment that could benefit homebuilders.

Berkshire said that as of June 30, it owned about 5.97 million DR Horton shares worth $726.4 million, about 153,000 Lennar shares worth $17.2 million, and 11,112 NVR shares worth $70.6 million.

The filing does not say which investments are Buffett's and which are from his portfolio managers Todd Combs and Ted Weschler.