Shares of Ulta Beauty (NASDAQ:) and Heico rose in premarket trading Thursday after modern securities filings revealed that Warren Buffett Berkshire Hathaway B (NYSE:) (NYSE:) bought this stock in the second quarter.
At the same time, the conglomerate reduced its stake in Apple (NASDAQ:) and Chevron Corp (NYSE:) this quarter while also completely divesting its stakes in some companies.
Shares of Ulta Beauty and Heico were up more than 16% and 8% in premarket trading on Thursday.
According to 13-F filings released Wednesday, Berkshire Hathaway bought about 690,000 shares of Ulta Beauty, valued at about $266 million as of June 30. The company also acquired about 1 million shares of Heico Corp.
Meanwhile, the filing also confirmed Berkshire’s full exit from Paramount Global, a scarce mistake by Buffett. He admitted that he sold all of Paramount Global’s Class B (NASDAQ:) shares at a loss during Berkshire’s annual shareholder meeting in May, after selling a significant portion of that stake in the first quarter.
Berkshire also sold its entire position in tech company Snowflake (NYSE:). By the end of the first quarter, Berkshire owned 6.1 million shares of SNOW, valued at about $989 million.
By the end of the second quarter, Berkshire had nearly halved its stake in Apple to 400,000 shares, valued at $84.2 billion, according to its second-quarter earnings report. Buffett had previously cut his Apple stake by 13% in the first quarter, though the tech giant still accounts for about a third of Berkshire’s overall portfolio.
It’s crucial to remember that 13-F filings only serve as a snapshot of your portfolio’s status at the end of the quarter. This filing doesn’t include any trades you made after June, such as the sale of Bank of America Corp (NYSE:) stock in July. It also doesn’t provide details about the gain or loss from any of the sales.
Other notable moves included the sale of nearly 4.3 million shares of Chevron Corp. (NYSE), even as the energy giant’s weight in Berkshire’s portfolio rose to 6.6% as of June 30 from 5.8% at the end of the first quarter.
Buffett’s conglomerate also reduced its Capital One share count by about 2.6 million, Floor & Decor Holdings Inc (NYSE:) by more than 800,000 shares and T-Mobile US Inc (NASDAQ:) by about 570,000 shares.
Buyer Buffett bought 7.2 million shares of Occidental Petroleum (NYSE), bringing his total holding to about 255 million shares, worth almost $16 billion, or 5.7% of the portfolio.
Additionally, he increased his stake in Chubb (NYSE:) Limited by more than 1.1 million shares, for a total of 27 million.
