Buffett’s Berkshire purchased Activision Blizzard earlier than deal By Reuters

0

© Reuters. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, US, May 4, 2019. REUTERS/Scott

(Reuters) -Warren Buffett’s Berkshire Hathaway (NYSE:) Inc loaded up on shares in video game maker Activision Blizzard Inc (NASDAQ:) ahead of microsoft corp (NASDAQ:)’s $68.7 billion deal to buy the company, according to a regulatory filing.

Microsoft announced its acquisition of “Call of Duty” maker Activision Blizzard on Jan. 18, sending Activision’s shares surging. It is up more than 20% year to date.

Berkshire said in a regulatory filing on Monday it added nearly 14.7 million shares of Activision in the fourth quarter while hedge fund Third Point, run by Daniel Loeb, added a new position, buying 2 million shares in the fourth quarter.

Investors monitor Berkshire’s investments closely to see where Buffett and his investment managers Todd Combs and Ted Weschler see value.

The filings do not say who bought and sold what, though Buffett generally handles larger investments.

Monday’s filing suggests that Berkshire remains resistant to buying stocks, after having been a net seller throughout much of 2021.

The company also added to its position in energy giant chevrons Corp (NYSE:) while slicing its position in healthcare names including Bristol-Myers Squibb (NYSE:) Co and Abbvie Inc during the quarter that ended in December.

The sales and Buffett’s six-year drought in buying large whole companies have contributed to Berkshire’s boosting its cash holdings as of Sept. 30, 2021, to a record https://www.reuters.com/article/berkshire-results-idCAKBN2HR092 $149.2 billion, despite at least $21.9 billion of stock buybacks.

Berkshire is expected to disclose more about its stock purchases, buybacks and cash on Feb. 26 when it releases year-end results and Buffett’s widely read annual shareholder letter.

Berkshire is based in Omaha, Nebraska. It also owns dozens of businesses including the BNSF railroad, Geico auto insurance and Dairy Queen ice cream.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

You might also like

Leave A Reply

Your email address will not be published.