Buffett Snapped Up $1 Bil in $ATVI before $MSFT


Warren Buffett’s Berkshire Hathaway built a billion-dollar stake in Activision Blizzard last quarter, before Microsoft agreed to acquire the video-games giant in January this year.

The famed investor’s company purchased 14.7 million shares of the “Call of Duty” and “World of Warcraft” studio, giving it an almost 2% stake worth $975 million at the end of December, a Securities and Exchange Commission filing revealed on Monday.

Microsoft agreed to acquire Activision Blizzard in an all-cash deal for $69 billion in January, helping to propel the video-game company’s stock price up 21% this year, and boosting the value of Berkshire’s stake to $1.2 billion today.

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Buffett’s company made several other changes to its portfolio. For example, it slashed its AbbVie and Bristol-Myers Squibb stakes by nearly 80%, cut its March & McLennan and Royalty Pharma holdings, and sold its position in Teva Pharmaceuticals.

On the other hand, it boosted its Chevron stake by a third to 38.2 million shares. It also disclosed a $1 billion stake in Nubank following the Brazilian lender’s stock-market debut in December.

Also: Buffett Buys Chevron, Sells Visa and Mastercard in Q4

Warren Buffett’s Berkshire Hathaway bought about 9.4 million shares of Chevron in the quarter, boosting its stake to 38 million.


As for the selling, Berkshire reduced its holdings in credit companies Visa (V) - Get Visa Inc. Class A Report and Mastercard (MA) - Get Mastercard Incorporated Class A Report. It trimmed its Visa stake by 13% to 8.3 million shares and its Mastercard holding by 7% to 4 million shares, according to CNBC. The Visa stake was worth $1.87 billion as of Monday’s close, and the Mastercard holding was worth $379 million.

Chevron represented the only one of Berkshire’s top 10 publicly-traded stock holdings that changed in size during the last quarter. The top 10 as of Dec. 31, starting from the biggest position, were Apple (AAPL) - Get Apple Inc. Report, Bank of America (BAC) - Get Bank of America Corp Report, American Express (AXP) - Get American Express Company Report, Coca-Cola (KO) - Get Coca-Cola Company Report, Kraft-Heinz (KHC) - Get Kraft Heinz Company Report, Moody’s (MCO) - Get Moody’s Corporation Report, Verizon (VZ) - Get Verizon Communications Inc. Report, US Bancorp (USB) - Get U.S. Bancorp Report, Chevron and Bank of New York Mellon (BK) - Get Bank of New York Mellon Corporation Report.

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And he made a major purchase of Chevron stock. He must think oil is an inflation hedge.