Warren Buffett's Berkshire Hathaway made significant moves in the second quarter, disclosing new positions in Ulta Beauty and Heico while selling off shares of Apple, Chevron, and several other companies. The filing late Wednesday revealed that Berkshire opened positions in Ulta Beauty and Heico for the first time.

Ulta Beauty stock surged more than 12% in extended trading following the announcement. Shares had previously closed down 0.8% during the regular session. Meanwhile, Berkshire stock also gained on Wednesday within a buy zone.

In the second quarter, Berkshire grew existing positions in insurer Chubb, Sirius XM, and Occidental Petroleum. The company bought Ulta Beauty stock as shares plunged due to cooling demand.

Buffett-led Berkshire nearly halved its Apple stock holdings in the second quarter but still retains about 400 million shares. The company also exited Paramount Global and Snowflake during that period.

Berkshire continued to trim its stake in oil major Chevron in Q2. It also reduced positions in Capital One Financial, railroad Louisiana-Pacific, and Floor & Decor over the quarter.

Investors were already aware that Berkshire was a net seller of stocks for the seventh consecutive quarter. The reductions in Apple and Bank of America were notable as they are among Berkshire's biggest holdings.

Berkshire Hathaway's stock portfolio is closely monitored due to its superior long-term returns. Changes in the portfolio often have significant impacts. For instance, Chubb stock broke out after a 13F filing revealed a new Berkshire Hathaway position worth $6.7 billion.

Class B shares of Berkshire Hathaway rose 1.3% on Wednesday. Despite strong Q2 earnings, Berkshire stock had briefly dipped below a 430 buy point earlier in August. However, it has now bounced back above the entry as well as the 50-day average. The stock is up 22.9% so far this year.

Apple stock popped 1.7% on Tuesday and edged higher on Wednesday. Bank of America and Chubb also saw gains on Wednesday.

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