Berkshire Hathaway, the legendary investment firm led by Warren Buffett, has made some notable shifts in its portfolio this quarter, signaling key strategic changes for investors. Among the headline moves, Berkshire Hathaway Portfolio Changes include new positions in Ulta Beauty (ULTA) and Heico Corp. (HEI), while exiting from significant stakes in Paramount Global (PARA) and Snowflake (SNOW).
In a new addition, Berkshire Hathaway purchased around 690,000 shares of Ulta Beauty, with a total valuation of approximately $266 million as of June 30. This news caused Ulta Beauty’s shares to surge by 14% in after-hours trading, reflecting investor confidence in the beauty retail sector. Additionally, the firm acquired about 1 million shares of Heico Corp., which also saw its stock rise nearly 4% following the disclosure.
However, Buffett’s team decided to exit some major positions. Paramount Global was one of the rare investment missteps for Buffett, as he sold off the company’s entire stake, admitting to a loss during the annual shareholder’s meeting in May. Similarly, Berkshire completely divested from Snowflake, having previously held 6.1 million shares valued at $989 million at the end of the first quarter.
Berkshire Hathaway Portfolio Changes also included strategic adjustments to existing positions. Notably, Buffett trimmed his Apple (AAPL) stake by nearly half, reducing his holding to 400,000 shares valued at $84.2 billion. This follows a previous 13% reduction in the first quarter of 2023.
Berkshire’s selling spree continued with Chevron Corp. (CVX), offloading 4.3 million shares, but interestingly, Chevron’s overall portfolio weight increased to 6.6% as of June 30, up from 5.8% at the end of Q1. In addition, the company shed 2.6 million shares of Capital One (COF), over 800,000 shares of Floor & Decor (FND), and roughly 570,000 shares of T-Mobile (TMUS).
On the buying side, Berkshire Hathaway continued to build its stake in Occidental Petroleum (OXY), adding 7.2 million shares during the second quarter. This brings the total holding to roughly 255 million shares, valued at nearly $16 billion, making up 5.7% of the total portfolio.
Another notable increase was in Chubb Limited (CB), a mystery stock investment from the previous quarter. Berkshire added over 1.1 million shares, bringing its total count to 27 million.
As Buffett continues to adjust his investments to navigate volatile markets, the Berkshire Hathaway Portfolio Changes reflect a strategic balancing act between growth sectors and value bets. Investors will be keen to watch how these moves impact the firm’s future performance.
Tags: Berkshire Hathaway Portfolio, Warren Buffett Investments, Ulta Beauty Stock, Heico Corp., Paramount Exit, Snowflake Sale, Apple Stake Reduction
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