Shares of Ulta Beauty surge after Warren Buffett reveals stake

Berkshire Hathaway’s Q2 2024 13F filing reveals some shifts in the Oracle’s portfolio. Here’s what changed in that data, which reflects June 30 holdings:

New Positions:

• Buffett initiated stakes in HEIA (1.04 million shares) and ULTA (0.69 million shares), signaling interest in new sectors.

Buying Spree:

• Significantly boosted SIRI holdings to 132.88 million shares from 36.68 million.
• Increased positions in OXY, LSXMK, LSXMA, and CB.

Steady Holdings:

• Maintained substantial positions in BAC, KO, KHC, AXP, C, DVA, and MCO.

Notable Exits:

• Completely sold out of PARA and SNOW positions.

Trimming:

• Drastically reduced AAPL stake to 400 million shares from 789.37 million.
• Also decreased positions in CVX, COF, FND, LPX, and TMUS.

Shares of ULTA are up 11% in post-market trading on the news while shares of Snowflake fell 1.4%. He had already disclosed the Apple sale, so that’s not surprising.

The Ulta Beauty stake would be worth around $260 million, which is a small holding for Berkshire.

As for Bank of America, he held the position through June but more-recently revealed he sold 33.9 million shares over a three-day period, or about $1.5 billion. He still owns 999 million shares.

This article was written by Adam Button at www.forexlive.com.