Berkshire invests in Ulta Beauty, Heico as it retreats from Apple
) and aircraft parts maker Heico during the second quarter, when it also nearly halved its huge stake in Apple (NASDAQ:
Wednesday's filing did not say whether Buffett did the buying, though his portfolio managers Todd Combs and Ted Weschler normally oversee Berkshire's smaller stock investments.Heico Co-President Eric Mendelson said he was honored to have Berkshire invest, citing both companies' decentralized business models. Shares of Hollywood, Florida-based Heico are up 32% this year through Wednesday's close.
Its business portfolio includes brands such as Benjamin Moore, Dairy Queen, Duracell and Fruit of the Loom, and about $2.5 billion of stock in grocery chain Kroger (NYSE:Berkshire is also familiar with the aerospace sector, having paid $32.1 billion in 2016 for aircraft parts maker Precision Castparts, still its largest purchase of an entire company.
Berkshire sold $77.2 billion of stocks during the period, including about 390 million shares of Apple, and bought just $1.6 billion.The selling left Berkshire with $276.9 billion of cash and equivalents, up from $189 billion at the end of March.
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