Warren Buffett has cashed in a net $177 billion of stocks because he expects a downturn and plans to capitalize, Wedbush's Paul Dietrich said.

Berkshire Hathaway ( BRK.A -0.05%) ( BRK.B 0.24%) is considered by many to be a reliable stock for long-term investors. It's outperformed the S&P 500 ever since a young Warren Buffett took over the company in 1965, and its evolution from an aging textile maker to a diversified conglomerate churned out millionaire-making gains.

UnitedHealth Got a Boost From Berkshire’s Buying. 2 Reasons to Wait to Follow. UnitedHealth Group, the worst-performing stock in the Dow Jones Industrial Average so far this year, got a major boost last week from billionaire investor Warren Buffett. That doesn’t mean everyone else should buy.

Berkshire Hathaway’s portfolio added six new stocks, including the three new secret stocks. Warren Buffett was a net seller of stocks for the eleventh straight quarter.

The conglomerate sold Apple shares during the second quarter, though the iPhone maker remains Berkshire’s largest stockholding.

Warren Buffett's Berkshire Hathaway has acquired 5 million shares in UnitedHealth Group , a regulatory filing showed on Thursday, sending the health insurer's stock up 7% in extended trading.