Top investment institutions have released their latest 13F filings for the second quarter of 2024. Warren Buffett's Berkshire Hathaway acquired stakes in cosmetics store chain Ulta Beauty and aircraft parts maker Heico during the second quarter, when it also significantly cut its huge stake in Apple.

Other hedge funds, however, continued to buy into some of the biggest technology companies including Apple Inc. in the second quarter. At the same time, funds trimmed positions in AI darling Nvidia Corp. as they took their profit from the frenetic rally.

Hedge funds also boosted their exposures in other AI-related companies like Amazon.com Inc and Taiwan Semiconductor Manufacturing Co Ltd, according to the data. Microsoft Corp. was cut or reduced by 140 investors, the biggest such reduction.

Bridgewater Associates, founded by billionaire Ray Dalio, boosted its holdings in Amazon, to 2.65M shares from 1.05M shares, Exxon Mobil, to 941K from 151K, and Microsoft, to 1.09M from 580K. Trimmed positions feature Apple, to 469K from 1.84M, Eli Lilly, to 96K from 280K, and CVS Health, to 1.24M from 2.45M, the filing showed.

Renaissance Technologies, the quant fund founded by the late Jim Simons, opened fresh positions in Netflix, with ~272K shares, Advanced Micro Devices, with 1.83M shares, and Qualcomm, with 1.10M shares, according to its 13F filing for Q2 2024.

Michael Burry ’ s Scion Asset Management continued to boost its stake in China ’ s tech giant Alibaba Group Holding Ltd., while slashing his overall equity portfolio in half.