Warren Buffett's Firm Chops Apple Position, Enters Holdings in Ulta Beauty and Heico

Core Insights - Berkshire Hathaway made significant new investments in Ulta Beauty Inc and Heico Corp during Q2 2024, acquiring 690,106 shares of Ulta valued at approximately $266.29 million and 1,044,242 shares of Heico valued at around $185.37 million [2] - The company increased its stake in Occidental Petroleum Corp by 7,263,396 shares, totaling 255,281,524 shares valued at approximately $16.09 billion, and also raised its position in Chubb Ltd by 1,109,944 shares, now totaling 27,033,784 shares valued at about $6.90 billion [3] - Berkshire Hathaway completely exited its positions in Snowflake Inc and Paramount Global, liquidating 6,125,376 shares of Snowflake and 7,531,765 shares of Paramount, impacting the portfolio by -0.3% and -0.03% respectively [3] - A significant reduction was observed in Apple Inc shares, with a drastic cut of 389,368,450 shares, representing a -49.33% decrease and impacting the portfolio by -20.13% [4] - Chevron Corp shares were reduced by 4,369,673, a -3.55% decrease, with a -0.21% impact on the portfolio [5] - As of Q2 2024, Berkshire Hathaway's portfolio comprised 41 stocks, with top holdings in Apple Inc (30.09%), Bank of America Corp (14.67%), American Express Co (12.54%), Coca-Cola Co (9.09%), and Chevron Corp (6.63%), reflecting a diversified investment strategy across various sectors [6] Sector Breakdown - The portfolio includes investments across multiple sectors such as Financial Services, Technology, Consumer Defensive, Energy, Communication Services, Healthcare, Consumer Cyclical, and Industrials, showcasing a strategic diversification approach [6][8]