Breaking News: Warren Buffett's Berkshire Hathaway Buys Ulta Beauty and Heico Stocks, Boosting Shares in Pre-market Trading!
In a surprising turn of events, Warren Buffett's Berkshire Hathaway (NYSE: BRK.B) made strategic moves in the second quarter, purchasing significant stakes in Ulta Beauty and Heico. This news sent shares of Ulta Beauty soaring by over 16% and Heico by 8% in premarket trading on Thursday.
According to the latest 13-F filings, Berkshire Hathaway acquired approximately 690,000 shares of Ulta Beauty, valued at $266 million, and around one million shares of Heico Corp. However, the conglomerate also reduced its positions in Apple and Chevron, completely exiting Paramount Global and Snowflake.
Buffett's decision to trim its Apple stake to 400,000 shares, valued at $84.2 billion, raised eyebrows. Despite this reduction, Apple still accounts for a significant portion of Berkshire's portfolio. The filing also revealed Berkshire's increased stake in Occidental Petroleum and Chubb Limited.
It's important to remember that 13-F filings are just a snapshot of portfolio holdings at the end of the quarter and don't include post-quarter transactions. Nevertheless, these moves by Berkshire Hathaway have significant implications for the market and investors.
In summary, Warren Buffett's Berkshire Hathaway is making strategic shifts in its portfolio, focusing on key investments while divesting from others. Investors should pay attention to these moves as they could impact their own portfolios and overall financial strategies.