Warren Buffett Just Dumped Apple Stock and Gave His Portfolio a Total Makeover With This Beaten-Down Stock. Time to Buy?
Warren Buffett's investing style is not congruent with rapid buying and selling. Rather, the Oracle of Omaha built his fortune at Berkshire Hathaway by investing in quality companies and holding on to his high-conviction positions for decades.
Each quarter, institutional investors are required to disclose their stock positions in a filing called a form 13F. Berkshire's most recent 13F did have quite a bit of change. Notably, Berkshire sold nearly half of its position in Apple -- a cornerstone of the portfolio for many years. Subsequently, the investment firm scooped up nearly 700,000 shares in cosmetics company Ulta Beauty (NASDAQ: ULTA).
Let's dig into why Buffett might like Ulta, and assess whether your portfolio could also use a makeover featuring this leading beauty retailer.
Source Fool.com