Hedge funds and investment firms with over $100 million in assets are required to disclose their stock portfolios throughout the year. The updates for the second quarter of 2024 are rolling in now, and this includes updates from the financial vehicles managed by prominent billionaires Warren Buffett and Bill Ackman, as well as by multimillionaire Michael Burry.

This wealthy trio has been busily buying the dips for three value stocks: Ulta Beauty (NASDAQ: ULTA), (NYSE: NKE), and Shift4 Payments (NYSE: FOUR). Here's why these bargains were too good for these investors to pass up.

As of this writing, Ulta Beauty stock is down 33% from its all-time high and down 22% in 2024. Shares started sliding after management warned of slowing sales for cosmetic products, leading it to lower the company's full-year financial guidance.

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Source Fool.com