Warren Buffett still owns 400 million Apple shares, reveals new investments in Ulta Beauty and Heico – Elon Musk calls Berkshire Hathaway’s $277 billion cash reserves ‘wild’

Benzinga and Yahoo Finance LLC may earn commission or revenue for some articles through the links below.

Warren Buffett, the legendary investor, revealed significant stock sales by Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) in the second quarter, including a substantial reduction in Apple Inc.’s holdings. (NASDAQ:AAPL).

What happened: Buffett’s company sold more than 389 million Apple shares in the second quarter, according to the company’s latest filing with the US Securities and Exchange Commission on Wednesday. Despite the sale, Berkshire Hathaway still owns 400 million shares of Apple.

News that Buffett had sold a significant chunk of Apple stock was revealed in Berkshire’s earnings report earlier this month, but the exact number of shares sold did not become clear until Wednesday.

Trends:

• Don’t miss the next NVIDIA – you can invest in the future of AI for just $10.
  **This is a paid advertisement. Please carefully consider Fundrise Innovation Fund’s investment objectives, risks, fees and expenses before investing. This and other information can be found in fund prospectus. Read them carefully before investing.

• This city has one of the largest economies in the world and a real estate market to match. Invest now and earn profit.

In addition to Apple, Berkshire Hathaway also reduced its investment in Bank of America Corp (NYSE:BAC). Chevron Corporation (NYSE:CVX), Capital One Financial Corp. (NYSE:COF), Floor & Decor Holdings Inc (NYSE:FND), T-Mobile US, Inc. (NASDAQ:TMUS) and Louisiana-Pacific Corporation (NYSE) :LPX)

The company increased its holdings in Chubb Limited (NYSE:CB) to 27,033,784 shares and in Occidental Petroleum Corporation (NYSE:OXY) to 255,281,524 shares. In addition, it made new smaller investments in aerospace parts maker Heico Corp (NYSE:HEI) with 1,044,242 shares and in cosmetics retailer Ulta Beauty Inc (NASDAQ:ULTA) with 690,106 shares.

Tesla Inc. CEO Elon Musk commented on Berkshire Hathaway’s substantial cash reserves of $277 billion, predicting changes as Treasury yields fall following the disclosure of the conglomerate’s stake sales. Musk said: “The $277 billion in cash reserves is wild. This will change as government bond yields fall.”

Don’t miss:

The story continues

Why it matters: Buffett’s investment decisions have always been closely watched due to his remarkable track record. This latest move comes as Berkshire Hathaway’s shares are up more than 20% year-to-date, despite lagging the broader stock markets for much of the year thanks to its large stake in Apple.

In early August, Buffett’s decision to sell nearly half of Berkshire’s Apple shares was seen by Elon Musk as an indication of an impending market correction.

Global market volatility has also tested Buffett’s investments. Despite a significant initial decline, Berkshire’s $20 billion investment in the Japanese trading giants has recouped most of its losses. The global market turmoil triggered by Japan’s rate hike had limited impact on these investments.

Buffett’s recent stock sales also helped boost Berkshire’s cash reserves to a record $277 billion. This increase in cash reserves comes despite a 15.5% year-over-year decline in the company’s second-quarter net income, largely due to a decline in investment earnings amid volatile market conditions.

Price action: Class A shares of Berkshire Hathaway Inc. closed Wednesday at $657,122.00, marking a gain of 1.24%. Year to date, it is up 19.52%. Meanwhile, Berkshire Hathaway Inc.’s Class B shares. they finished at $438.47 on the same day, up 1.40%. In after-hours trading, it was up 0.14 percent. Year to date, the stock has appreciated 20.97%, according to data from Benzinga Pro.

Looking for higher yielding opportunities?

The current high interest rate environment has created an incredible opportunity for income investors to earn massive returns, but not through dividend stocks… Certain private market real estate investments offer retail investors the opportunity to capitalize on these investments with high yield. opportunities and Benzinga has identified some of the most attractive options for you to consider.

For example, the Ascent Income Fund from EquityMultiple targets stable income from senior commercial real estate debt positions and has a historical distribution yield of 12.1% backed by real assets. With priority payment and flexible liquidity options, the Ascent Income Fund is a core investment vehicle for income-focused investors. First-time investors with EquityMultiple can now invest in the Ascent Income Fund with a reduced minimum of just $5,000. Benzinga Readers: Get a 1% ROI boost on your first EquityMultiple investment when you sign up here (accredited investors only).

Don’t miss this opportunity to take advantage of high yield investments while rates are high. Check out Benzinga’s favorite high yield deals.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

This article Warren Buffett still owns 400 million shares of Apple, reveals new investments in Ulta Beauty and Heico — Elon Musk calls Berkshire Hathaway’s $277 billion cash reserves “Wild” originally appeared on Benzinga.com