Warren Buffett's company placed new bets on and Heico, exited Snowflake and Paramount Global, and last quarter. The famed investor's Berkshire Hathaway detailed the striking changes to its stock portfolio in a regulatory filing on Wednesday. The conglomerate purchased about 690,000 Ulta shares, securing a stake in the worth $266 million at the end of June.
It also scooped up about a million Heico shares — a position in the electronic equipment maker worth $185 million at the quarter's close. Berkshire's vote of confidence sent Ulta shares up as much as 16% and Heico shares up 4% in premarket trading on Thursday as other investors piled in — a reflection of the " ." Ulta and Heico were both down by about a third this year at Wednesday's close, with the retailer valued at just under $16 billion.
Buffett and his investment managers, and , also closed out their wagers on cloud-computing specialist Snowflake and Paramount. Those stakes were valued around $1 billion and $89 million respectively at the end of March. Apple crunched Berkshire held 400 million Apple shares at the end of June, mirroring its Coca-Cola stake.
The company foreshadowed its Apple sales in its recent second-quarter earnings, which revealed the value of its fell from $135 billion to $84 billion last quarter. It had already pared the position by 13% in the . Ulta and Heico are likely stock picks by Combs and Weschler, as Buffett tends to make multibillion-dollar wagers.
Both companies look to be within Berk.