In pre-market trading, shares of Ulta Beauty Inc. ( ULTA ) and Heico Corp ( HEI ) are experiencing a significant surge. This comes after Berkshire Hathaway Inc. announced an increase in its holdings in these companies.

What Happened: According to Benzinga Pro, Ulta Beauty Inc. ( ULTA ) and Heico Corp ( HEI ) saw pre-market gains of 16.39% and 3.85% respectively. Other companies, such as Chubb Limited ( CB ) and Occidental Petroleum Corporation ( OXY ) , also saw minor pre-market increases. Chubb Limited’s shares rose by 0.41%, while Occidental Petroleum Corporation’s shares increased by 0.97%.

The company has boosted its holdings in Chubb ( CB ) to 27,033,784 shares and Occidental Petroleum ( OXY ) to 255,281,524 shares. Additionally, it has made new, smaller investments in aerospace parts manufacturer Heico Corp ( HEI ) with 1,044,242 shares and cosmetics retailer Ulta Beauty Inc ( ULTA ) with 690,106 shares.

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Why It Matters: The surge in these stocks comes after Berkshire Hathaway, led by renowned investor Warren Buffett, disclosed significant stock sales in the second quarter, including a substantial reduction in its Apple Inc. ( AAPL ) holdings. Despite selling over 389 million Apple ( AAPL ) shares, Berkshire Hathaway still retains 400 million Apple ( AAPL ) shares. The exact number of shares sold was only clarified recently.

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari