When Berkshire Hathaway’s (BRK-B) Warren Buffett invests, people listen. In the second quarter, the investor legend confirmed that he sold over 389 million Apple (AAPL) shares.
AAPL stock will not fall by much after the news. The firm allocated $110 billion to buy back its shares. It also hiked its cash dividend by 4% to keep shareholders happy. Besides, Berkshire still holds 400 million AAPL stock.
In the last quarter, Berkshire reduced its stake in Bank of America (BAC), Capital One, T-Mobile (TMUS), Chevron (CVX), and Louisiana-Pacific (LPX). The firm closed its losing positions in Paramount Global (PARA) and Snowflake (SNOW).
The firm increased its holdings in Occidental Petroleum (OXY) to 255 million shares, up from 248 million. Sirius XM (SIRI) is a bigger holding, at 133 million shares compared to 36.7 million.
Berkshire’s new positions are in Ulta Beauty (ULTA) and Heico (HEI-A).
Chances are high that Buffett is not the investor who is behind the new positions.
Ulta is a luxury specialty retailer. The stock topped $574.76 in March. The spike was followed quickly by a steep downtrend. ULTA stock will open up by at least 13% this morning in reaction to the news.
