Warren Buffett's Berkshire Hathaway Just Sold Snowflake Stock. You'll Never Believe Which Beaten-Down Value Stock It Bought Instead

One of these businesses is more capital-intensive than the other.On Aug. 14, Warren Buffett's conglomerate Berkshire Hathaway (BRK.A 0.27%) (BRK.B 0.17%) released its updated stock holdings for the second quarter of 2024. The biggest headline-grabbing moves were that it sold all of its shares of Snowflake (SNOW 0.22%) and started a roughly $260 million position in Ulta Beauty (ULTA 2.85%). But both of these moves make perfect sense for Berkshire.To be clear, Berkshire Hathaway has plenty of money -- it had ...