In the second quarter of this year, shares of the aerospace and electronics manufacturing company Heico Corp. (HEI) and the beauty goods company Ulta Beauty (ULTA) were purchased by Warren Buffett’s Berkshire Hathaway, according to a regulatory filing on Wednesday.
Additionally, the 13-F filing attested to Berkshire’s substantial reduction in its stake in Apple Inc. (AAPL). The Apple position still makes up around one-third of Berkshire’s investment holdings.
Remember that 13-F filings only offer an overview of the portfolio after each quarter. The Bank of America (BAC) shares that the corporation sold in July is not included in this Berkshire report because it provides no information on any transactions that have occurred since June. Furthermore, it gives no information regarding profits or losses from any sales.
This was the appearance of Berkshire’s portfolio on June 30.
As of June 30, Berkshire Hathaway owned approximately 690,000 shares in Ulta Beauty, which were valued at around $266 million. Following the disclosure of the shareholding, the cosmetics company’s shares surged 14% during extended trading on Wednesday.
Additionally, Buffett purchased roughly a million shares of Heico Corp., a company whose stock increased by almost 4% during after-hours trading.
The company’s withdrawal from Paramount Global (PARA), an unusual wager that went poorly for Buffett, was reflected in the report. At the May Berkshire annual shareholder’s meeting, he had acknowledged selling all of the company’s shares for a loss, and he had sold off a sizable portion of that position in the first quarter.
Additionally, the business sold all of its stock to the technology company Snowflake (SNOW). Berkshire owned 6.1 million shares in the company at the end of the first quarter, with a market value of around $989 million.
According to what was disclosed during its second-quarter earnings, Berkshire had almost reduced its Apple holding at the end of the second quarter, to 400,000 shares valued at $84.2 billion. In the first quarter, Buffett cut his stake in the technology company by 13 per cent.
In addition to reducing its holdings significantly, Berkshire sold around 4.3 million shares of Chevron Corp. (CVX). Chevron’s share of the Berkshire portfolio increased to 6.6% as of June 30 from 5.8% at the end of Q1 despite the sale.
A little over 800,000 shares in Floor & Decor (FND), 2.6 million shares in Capital One (COF), and about 570,000 shares in T-Mobile (TMUS) were also divested by the business.
Having said that, Buffett increased the number of holdings in his portfolio. During the quarter, he acquired 7.2 million additional shares of Occidental Petroleum (OXY), increasing his overall holding to approximately 255 million shares, valued at approximately $16 billion, or 5.7% of the entire portfolio.
In addition, Berkshire increased its total number of shares to 27 million by adding slightly more than 1.1 million shares of Chubb Limited (CB), the mystery stock investment it disclosed after the previous quarter.
