The California State Teachers Retirement System (CalSTRS) significantly expanded its position in Ulta Beauty Inc. during the second quarter.
According to a recent SEC 13F filing, the pension fund purchased an additional 29,365,845 shares.
This acquisition brings the fund's total ownership to 29,433,210 shares.
The move represents a 43,592.1% increase in the fund's previous position.
CalSTRS now controls 68.47% of the beauty retailer.
The total stake is valued at approximately $13.27 billion.
Several other hedge funds have also recently increased their holdings in the company.