Berkshire Hathaway's $1 billion homebuilding investment indicates Warren Buffett's confidence in a future U.S. housing market rebound.

Buffett, through Berkshire, bought more than 5 million shares of the managed care company, worth an estimated $1.6 billion. Meanwhile, Michael Burry, who became famous in the book and movie The Big Short for his bet against subprime mortgages, bought 20,000 shares. Billionaire David Tepper also increased his stake in the name during the quarter.

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