Buffett’s Berkshire Takes Activision Blizzard Stake, Exits Teva

(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. took a stake in Activision Blizzard Inc., the game giant that has agreed to be acquired by Microsoft Corp., in an investment that would have been valued at $975 million at the end of the year.

Berkshire held nearly 14.7 million shares in the video-game company as of Dec. 31, according to a regulatory filing released Monday. The conglomerate snapped up the stock ahead of Activision’s $69 billion deal with Microsoft, which was announced mid-January.

It’s unclear whether Buffett or one of his two investment managers, Todd Combs and Ted Weschler, made the investment. Buffett, Berkshire’s chief executive officer, has long had ties to Microsoft through his friendship with the tech firm’s co-founder and former CEO, Bill Gates. Activision stock jumped nearly 26% on the day of the deal’s announcement, and has climbed about 23% since the end of 2021.

A Berkshire representative didn’t immediately respond to a message about the Activision stake.

Buffett’s company reshuffled some other stock bets during the last three months of the year. The firm is no longer reporting a stake in Teva Pharmaceutical Industries Ltd. and Sirius XM Holdings Inc. after holding shares in those companies as of Sept. 30.

Berkshire ramped up its bet on stocks including Chevron Corp., Floor & Decor Holdings Inc. and RH. The Chevron stake was boosted by about 33%, for a year-end value of $4.49 billion.

Buffett’s company pulled back back on some pharmaceutical stocks, a trend that continued from the third quarter. The AbbVie Inc. holding was down 79% while the Bristol-Myers Squibb Co. stake fell 76%.

©2022 Bloomberg L.P.

Trending Ideas

Featured Stocks On The Move

Daily Rundown

Top 3 Stocks in Leading Sectors
  • 3 Energy Storage Stocks To Buy Now

    Bloom Energy Corporation (BE) Bloom Energy Corporation designs and manufactures solid oxide fuel cells for on-site power generation. Their Energy Servers provide reliable, resilient, and sustainable energy solutions for various... Read More

  • 3 Steel Product Stocks To Buy Now

    Perma-Pipe International Holdings, Inc. (PPIH) Perma-Pipe International Holdings, Inc. specializes in engineered piping solutions for various industries, including oil and gas, district heating and cooling, and industrial applications. The company... Read More

  • 3 Oil Field Machinery Stocks To Buy Now

    Matrix Service Company (MTRX) Matrix Service Company provides engineering, fabrication, construction, and maintenance services to energy and industrial markets. The company operates through segments such as Storage and Terminal Solutions,... Read More

  • 3 Restaurant Stocks To Buy Now

    Brinker International, Inc. (EAT) Brinker International, Inc. is a leading casual dining restaurant company, operating well-known brands such as Chili’s Grill & Bar and Maggiano’s Little Italy. The company focuses... Read More

  • 3 Coal Stocks To Buy Now

    Natural Resource Partners L.P. (NRP) Natural Resource Partners L.P. is a master limited partnership that owns, manages, and leases a diversified portfolio of mineral properties in the United States. The... Read More

  • 3 Real Estate Developer Stocks To Buy Now

    IRSA Inversiones y Representaciones Sociedad Anónima (IRS) IRSA Inversiones y Representaciones Sociedad Anónima is a leading real estate company in Argentina, engaged in the acquisition, development, and management of diversified... Read More

  • 3 Gas Distribution Stocks To Buy Now

    New Jersey Resources Corporation (NJR) New Jersey Resources Corporation is an energy services holding company that provides regulated natural gas distribution services through its subsidiary, New Jersey Natural Gas. The... Read More

  • 3 Food Product Stocks To Buy Now

    The Chefs’ Warehouse, Inc. (CHEF) The Chefs’ Warehouse, Inc. is a premier distributor of specialty food products, serving high-end restaurants, hotels, and gourmet food stores across the United States and... Read More

  • 3 HVAC Stocks To Buy Now

    Featured Content Lennox International Inc. (LII) Lennox International Inc. is a global leader in energy-efficient climate control solutions, specializing in heating, ventilation, air conditioning, and refrigeration (HVACR) products. The company... Read More

  • 3 Hotel Stocks To Buy Now

    Featured Content Hyatt Hotels Corporation (H) Hyatt Hotels Corporation operates a global portfolio of luxury, full-service, and lifestyle hotels, as well as vacation properties. Known for its premium hospitality offerings,... Read More

  • 3 Tobacco Stocks To Buy Now

    Featured Content Turning Point Brands, Inc. (TPB) Turning Point Brands, Inc. is a consumer products company that manufactures and markets tobacco products and alternative smoking accessories. The company’s portfolio includes... Read More

  • 3 Life Insurance Stocks To Buy Now

    Featured Content F&G Annuities & Life, Inc. (FG) F&G Annuities & Life, Inc. specializes in annuities and life insurance products designed to meet the long-term financial planning needs of clients.... Read More