What signal?
Berkshire Hathaway, owned by Warren Buffett, has disclosed its second quarter holdings changes.
Sell holdings dramatically.
During the second quarter, Berkshire Hathaway sold a large number of stocks, selling more than $77 billion of stocks, including around $50 billion of Apple stocks.
During this period, Berkshire Hathaway bought less than $2 billion of shares, including new holdings in Ulta Beauty and Heico Aviation.
After adjusting its holdings, Berkshire Hathaway's cash reserves reached a record $276.9 billion as of the end of June, higher than the $189 billion at the end of the first quarter.
At the annual shareholders meeting in May, Buffett said he was not in a hurry to spend the money, 'unless we think we're doing something that has very low risk and is going to make us a lot of money.'
Reducing holdings of Apple and Chevron, liquidating Snowflake and Paramount.
As part of its large-scale selling in the second quarter, Berkshire Hathaway cut its holdings in Apple by nearly 50%, net selling $75.5 billion of stock during the period.
Despite the significant reduction, Apple remains Berkshire Hathaway's largest holding.
Second only to Apple, Snowflake was among the top stocks that Berkshire Hathaway reduced its holdings the most in the second quarter, selling all 6.12 million shares it held at the end of the first quarter, with a market cap of about $840 million. In addition, media company Paramount was also liquidated.
Berkshire Hathaway has also cut its holdings in Bank of America, reducing its stake by more than 8.8% since mid-July, worth more than $3.8 billion.
Chevron's holdings have also been cut, selling 4.3697 million shares, while adding 7.2634 million shares of Occidental Petroleum.
In addition, Capital One, Floor & Decor Holdings, T-Mobile and Louisiana Pacific and other stocks have also been reduced by Berkshire Hathaway.
New holdings in Ulta Beauty and Heico Aviation.
In the second quarter, Berkshire Hathaway added a small amount of shares in the retail cosmetics chain Ulta Beauty and aerospace company Heico Aviation.
Berkshire Hathaway increased its holdings by 0.6901 million shares of Ulta Beauty's stock and 1.0442 million shares of Heico Aviation's stock.
Based on Wednesday's closing price, Berkshire Hathaway's holdings in Ulta Beauty are worth about $227 million, while its holdings in Heico Aviation are worth about $247 million.
As a result, Ulta Beauty soared 13.69% in after-hours trading to $374.1 per share. The company's stock has fallen 32% so far this year.
After-hours trading rose 3.85% to $246 per share for Heico Aviation. The company's stock has risen 32% so far this year.
