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Mark Cuban Says Your Retirement Account Is Funding the Wrong Companies

Mark Cuban argues that where you invest your IRA dollars can influence corporate behavior.

By Jordan Major

Edited by Laura Hohenstein

Updated Feb. 19, 2026

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Billionaire entrepreneur Mark Cuban isn't shy about weighing in when he believes consumers and investors have leverage.

In early February, Cuban posted on X (formerly Twitter), urging people to look more closely at where their retirement money is invested, particularly when it comes to large health insurance companies. His message was blunt: if you don't like how certain companies operate, one way to respond is by reconsidering where your IRA and savings dollars are allocated as part of maintaining strong financial fitness.

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Why Cuban says retirement money has power

The former "Shark Tank" co-host wrote that the "next step is to identify the funds that have invested in the biggest insurance companies and to move your IRAs and savings elsewhere," adding that if investors pull money from funds that hold large insurance stocks, it could pressure those companies to rethink their strategies.

Cuban's comments came in response to an earlier post in which he criticized large insurers for benefiting from government-backed revenue while shifting risk onto physicians and patients, calling them "Too Big To Care."

Capital flow

The billionaire's broader point centers on capital flows. Large insurance companies, like most publicly traded firms, depend on institutional investors, mutual funds, and ETFs to hold and support their stock prices. Those funds, in turn, are often held by everyday investors through retirement accounts such as IRAs and 401(k)s.

If enough investors shift their assets away from funds heavily exposed to certain industries, that can create outflows. Significant outflows may pressure stock prices, and lower stock prices can prompt corporate leadership and boards to respond.

The television personality suggested that if major insurance companies faced sustained stock declines due to investor backlash, "the market will make them divest," even if regulators don't intervene.

In other words, he's arguing that markets, not just lawmakers, can force change.

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Berkshire Hathaway

Cuban also referenced Berkshire Hathaway, saying he admires Warren Buffett but believes Berkshire should reconsider certain health care-related investments.

Berkshire has historically held stakes in a range of healthcare companies, including positions in UnitedHealth Group and other prominent health care names, while also maintaining long-term exposure to businesses such as DaVita. The conglomerate frequently adjusts its portfolio, but it remains one of the largest capital allocators in U.S. markets.

Cuban's comment suggests that even highly respected investment firms aren't immune from scrutiny when it comes to where capital is deployed. His message wasn't necessarily a direct attack on Buffett personally; he acknowledged the legendary investor's retirement from day-to-day leadership, but rather a broader call for large shareholders to evaluate the downstream impact of their investments.

What this means for your IRA

For most investors, retirement accounts are built around diversified index funds, mutual funds, or target-date funds. These vehicles often hold broad baskets of stocks, including insurers, pharmaceutical companies, banks, and other large corporations.

Cuban's point raises an important question: Do you know what's inside your IRA?

If you're invested in a total market index fund, you likely own shares of major insurance companies indirectly. That doesn't necessarily mean you should move your money, but it does highlight the importance of understanding fund holdings, expense ratios, and sector exposure.

Investors who feel strongly about specific industries sometimes explore ESG-focused funds, sector-exclusion ETFs, and actively managed funds aligned with certain values.

That said, shifting retirement investments should always be weighed carefully. Moving money frequently can trigger fees, tax consequences (depending on the account type), and unintended portfolio imbalances.

The bigger debate

Cuban's comments tap into a broader debate about whether investors should use their capital as a form of activism.

On one side, proponents argue that capital allocation is one of the most powerful tools available to individuals. If enough investors act collectively, companies may change policies or divest from controversial segments.

On the other side, many financial advisors emphasize that retirement accounts are primarily tools for long-term wealth building. Diversification, not activism, is usually the core strategy. Concentrated decisions based on headlines or political moments can introduce risk that undermines long-term financial goals.

The tension lies between values-based investing and traditional portfolio construction principles.

Should you move your IRA?

Cuban's message isn't formal financial advice; it's a call to pay attention to where your money is invested. Before making any changes, investors should consider their long-term financial goals, diversification and risk tolerance, fees and tax implications, and the role of the investment within their broader portfolio.

Reviewing your IRA holdings periodically is smart. Reacting quickly to social media posts may not be.

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Bottom line

Mark Cuban's post highlights something many investors overlook: your IRA isn't just a savings account, it's a source of capital that helps fund some of the largest corporations in the world.

Whether you agree with his stance or not, his broader message is clear. Understanding where your retirement dollars are invested gives you both financial clarity and, potentially, influence.

But as with any major investment decision, changes to your IRA should be driven by a long-term strategy, not short-term emotion, especially if your goal is a stress-free retirement.

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