[Form 4] DaVita Inc. Insider Trading Activity

Filing Impact

(High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Form 4 highlights: Berkshire Hathaway Inc. and Warren E. Buffett, both deemed 10% owners of Sirius XM Holdings (SIRI), disclosed fresh open-market purchases of the issuer鈥檚 common stock.

Transactions: Between 31-Jul-2025 and 04-Aug-2025 they bought 5,030,425 shares in four tranches: 1,977,837 sh at $21.0436, 85,389 sh at $21.4305, 1,930,000 sh at $21.0228 and 1,037,199 sh at $21.6252 (weighted-average prices; detailed price ranges supplied in footnotes).

Resulting ownership: Indirect holdings rose to 124,807,117 SIRI shares. Of this total, 108,822,227 shares are held by Berkshire insurance subsidiaries (GEICO, National Fire & Marine, National Indemnity) and 15,984,890 shares by pension plans of Berkshire subsidiaries. Buffett disclaims beneficial ownership except to the extent of his pecuniary interest.

Implications: The 4%+ increase in position reinforces Berkshire鈥檚 strategic exposure to SIRI and signals continued confidence from Buffett鈥檚 conglomerate while keeping the stake above the 10% threshold that triggers ongoing Section 16 reporting.

Insights

TL;DR: Berkshire bought 5.0 M SIRI shares, lifting stake to 124.8 M; purchase suggests incremental confidence, modest but positive signal.

Perspective: A 5 M-share addition raises Berkshire鈥檚 exposure by roughly 4 %, pushing its indirect ownership to 124.8 M shares. The buying window at ~$21 is near recent trading ranges, implying conviction rather than bargain hunting. Because Berkshire already exceeded the 10 % threshold, regulatory burden stays unchanged. While the dollar amount is small relative to Berkshire鈥檚 $300 B+ equity portfolio, Sirius XM benefits from the reputational endorsement. No immediate operational or financial impact on SIRI, yet the purchase may ease investor concerns about subscriber softness by showcasing an informed, long-term holder adding shares.

TL;DR: Additional purchases keep Berkshire aligned with insider-ownership incentives; no governance red flags.

Buffett鈥檚 conglomerate continues to hold SIRI through multiple insurance entities and pension trusts, preserving a diversified indirect structure. All trades were properly disclosed via Form 4 within two business days, indicating compliance with Section 16. The filing reiterates Buffett鈥檚 disclaimer of beneficial ownership beyond pecuniary interest, a standard governance stance that limits fiduciary conflicts. The absence of derivative activity or dispositions suggests a straightforward long equity thesis. Overall, the event is governance-neutral to positive, reflecting transparent reporting and sustained insider alignment.

08/04/2025 - 09:00 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BERKSHIRE HATHAWAY INC

(Last)

(First)

(Middle)

3555 FARNAM STREET

(Street)

OMAHA

68131

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
DAVITA INC. [ DVA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	07/31/2025		S		1,635,962	D	$140.6052	32,160,579	I	See footnotes⁽¹⁾⁽²⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

1. Name and Address of Reporting Person^*

BERKSHIRE HATHAWAY INC

(Last)

(First)

(Middle)

3555 FARNAM STREET

(Street)

OMAHA

68131

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BUFFETT WARREN E

(Last)

(First)

(Middle)

3555 FARNAM STREET

(Street)

OMAHA

68131

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

Explanation of Responses:

1. 15,528,491 of the total reported securities are owned by Government Employees Insurance Company, a subsidiary of Berkshire Hathaway Inc. ("Berkshire"). As Berkshire is in the chain of ownership of this subsidiary, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares of Common Stock presently owned by the subsidiary. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares of Common Stock presently owned by the subsidiary. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

2. 16,632,088 of the total reported securities are owned by the following pension plans of Berkshire's subsidiaries: BNSF Master Retirement Trust (6,100,000) and Berkshire Hathaway Inc. Consolidated Pension Plan (10,532,088); each of Berkshire, Mr. Buffett and these pension plans disclaim beneficial ownership in such shares.

	/s/ Warren E. Buffett, on behalf of himself and each other reporting person hereunder	08/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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