Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has been an excellent stock for longtime investors. Since Chief Executive Officer Warren Buffett took Berkshire's reins in 1965, Buffett and his team have delivered phenomenal returns of 19.8% compounded annually. These returns have crushed the S 500 index, which has delivered investors a solid 9.9% annual return in the same period.

The conglomerate's success is a big reason investors pay close attention to its 13F filing, showing its buying and selling activity in a given quarter. The Securities and Exchange Commission requires this filing from institutional investors, and it can provide us with some insights into what the best and brightest on Wall Street are doing.

In the third quarter, Berkshire reduced its stake in several stocks, many of which were long-term holdings. Included in the selling activity were several insurance stocks. Could this selling be a silent warning to the industry? Let's dig in and find out.

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Source Fool.com