Warren Buffett's Berkshire Hathaway took a position in Ulta Beauty and Heico in the second quarter, while significantly boosting its stake in Sirius XM, a filing revealed late Wednesday.
Ulta Beauty stock surged 11.2% on Thursday. Shares of Sirius XM advanced 3.8%. Heico pared gains as much as 9.3% intraday to 1.1% at the market close.
Warren Buffett's Q2 Stock Buys, Sells
In Q2, Berkshire Hathaway bought shares in Ulta Beauty and Heico, a jet engine supplier, for the first time, a 13F regulatory filing late Wednesday showed.
Buffett, a legendary value-oriented investor, purchased Ulta Beauty stock as it plunged. The beauty retailer warned in early April of cooling demand, tanking shares.
Among other Q2 moves, Berkshire reduced large positions in Dow giants Apple and Chevron. It also cut smaller positions in Capital One Financial, railroad Louisiana-Pacific and Floor & Decor.
Over the quarter, Berkshire grew its stake in Sirius XM by more than 96 million shares, according to whalewisdom.com, which tracks 13F filings. It added to positions in insurer Chubb and Occidental Petroleum as well.
Berkshire Hathaway exited Paramount Global in Q2, as well as Snowflake, a cloud data company.
After nearly halving its Apple stake in Q2, the Buffett-led conglomerate still holds 400 million shares of the iPhone maker.
Warren Buffett Remains A Seller of Stocks
Investors already knew that Berkshire was a net seller of stocks in Q2 for a seventh straight quarter.
They knew that the Berkshire chief shocked the markets by slashing a massive stake in Apple almost in half in Q2, right before the technology stock declined in August. And investors knew that Buffett cut its Bank of America position in the current quarter, just before market volatility spiked due to recession fears.
Both reductions were notable because Apple and Bank of America are among Berkshire's biggest holdings. They remain so after the cuts, which followed strong runs for their respective shares.
Rally Adds To Gains, Ferrari Breaks Out; New Buffett Buy Jumps
Berkshire Hathaway Stock Investment Portfolio
Investors monitor Berkshire Hathaway's more than $300 billion stock portfolio because of its superior long-term returns. Changes are notable because Warren Buffett tends to hold stocks for years and even decades.
News of a Buffett stock buy or sell can have big impact. Chubb stock broke out in May after a 13F filing revealed a new Berkshire Hathaway position in the insurer worth $6.7 billion, for example.
Class B shares of Berkshire Hathaway rose 0.5% on the stock market today. Berkshire stock undercut a 430 buy point from a flat base earlier in August despite strong Q2 earnings.
But BRKB stock has now bounced back above the entry as well as the 50-day average. It is up 23.4% so far this year.
