Warren Buffett, the world’s most influential billionaire investor, made significant moves in the second quarter of 2024, reshaping his investment portfolio.
Berkshire Hathaway, the company he manages, disclosed its updated portfolio composition as of June 30th, revealing both acquisitions and sales of stocks made between April and June.
One of the standout new acquisitions in the period was in Ulta Beauty, a beauty products company.
Berkshire opened a position in Ulta Beauty, purchasing 690,000 shares valued at approximately $266 million as of June 30th.
This move drew attention as Ulta Beauty’s stock price surged by 14% in after-hours trading following the disclosure of Berkshire’s investment.
Additionally, Buffett purchased around a million shares of Heico Corp., an aerospace and electronics manufacturer.
The stock of Heico Corp.
rose by nearly 4% in after-hours trading, with Berkshire’s new stake amounting to over $185 million by the end of June.
During the second quarter, Berkshire increased its holdings in Chubb, Liberty Sirius XM Series A and C, and Occidental Petroleum.
The company also significantly boosted its relatively small position in Sirius XM, increasing its stake by 262% to nearly 133 million shares.
On the selling side, Berkshire drastically reduced its position in Apple by over 49%, selling about 389 million shares.
The company completely exited its investments in Paramount Global and Snowflake, selling millions of shares in each.
Additionally, significant reductions were made in Chevron Corp., Capital One, Floor & Decor, and T-Mobile.
By the end of the second quarter, Buffett’s portfolio’s top five positions, representing approximately 73% of the portfolio’s value, included Apple, Bank of America, American Express, Coca-Cola, and Chevron.
Despite selling stocks worth $77.2 billion and buying only $1.6 billion during the period, Buffett’s strategic investment decisions continue to capture global attention.
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