Berkshire Hathaway Sells $69M of DaVita Stock Amid HHS Kidney Reforms, Securities Fraud Probe

Berkshire Hathaway has sold $69 million worth of DaVita (NYSE: DVA) shares as the US dialysis provider faces mounting regulatory uncertainty following a Trump administration kidney-care overhaul and a securities fraud investigation launched by Pomerantz LLP.

A filing with the Securities and Exchange Commission shows that Berkshire Hathaway sold 382,563 DaVita shares on 27th October 2026, at an average price of $180.4305 per share.

The SEC Form 4 filing, submitted on 29th October, lists Berkshire Hathaway and Warren Buffett as reporting persons. Berkshire's ownership of DaVita declined to 28.3 million shares following the transaction.

The sale comes amid growing pressure on the dialysis industry after the Department of Health and Human Services (HHS) announced its Kidney Care National Plan on 20th October. Pressure mounted on the stock further after law firm Pomerantz initiated an investigation into DaVita on 27th October, the same day Berkshire made the stock sale.

Why HHS Kidney Reform Is a Threat to DaVita

The HHS Kidney Care National Plan aims to change how kidney disease is prevented and treated in the US, with potentially significant consequences for established dialysis providers.

Announced by HHS Secretary Robert F. Kennedy Jr, the strategy focuses on three priorities: preventing kidney failure through earlier diagnosis and treatment, improving dialysis care while expanding patient choice, and reforming the organ transplantation system.

For DaVita, one of the country's largest dialysis providers, the administration's emphasis on competition and patient choice could create challenges for established operators. HHS intends to reduce barriers to entry for new dialysis providers and treatments, expand home-based care, and address policies it believes restrict competition and patient choice.

If these initiatives lead to greater adoption of alternative treatments and more providers entering the market, major dialysis operators could face increased competitive pressure.

What the Pomerantz Securities Fraud Investigation Is About

The regulatory uncertainty has been accompanied by legal scrutiny from Pomerantz, which is investigating potential claims on behalf of DaVita investors.

The probe concerns whether DaVita and certain of its officers or directors may have engaged in securities fraud or other unlawful business practices. In its investor alert, Pomerantz specifically highlighted the HHS announcement and the subsequent decline in DaVita's share price.

The underlying concern is whether the company adequately disclosed material risks associated with government policy, competition, and the potential impact of regulatory changes on its business.

Investors may seek to establish whether information about those risks was properly communicated to the market before the share-price decline. However, Pomerantz has not established that DaVita committed securities fraud.

Despite the latest stock sale, Berkshire continues to hold a significant stake in DaVita. Berkshire has not provided a reason for the latest sale in the Form 4, and it does not establish that the decision was driven by HHS policy, DaVita's share-price decline, or the Pomerantz investigation.

For DaVita shareholders, the combination of proposed changes to kidney care, potential competitive pressure, and legal scrutiny creates several issues to monitor.

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