(FT) Warren Buffett’s Berkshire Hathaway booked $975 million worth of shares in Activision Blizzard ahead of the company’s $75 billion buyout by Microsoft.
The purchase of 14.7 million shares in Activision was made in the fourth quarter of 2021.
Following a 23% surge in Activision this year to the closing price of $81.50 on Monday, Berkshire’s stake is now worth around $1.2 billion.
The addition of Activision happens even as Berkshire continues to wind down several holdings in pharmaceutical companies, having exited drugmaker Teva and reduced stake in AbbVie and Bristol-Myers Squibb by more than 70%.
It is not clear if the latest purchase was made by Buffet himself. The company is expected to give an update of its investments in its shareholder letter when it releases earnings in late February.
BRK.A: NYSE is down 1.42%, ATVI: NASDAQ is up +0.67% on premarket.
