Warren Buffett Trims Activision Blizzard, Adds Capital One In Q1: What Investors Need To Know
AJ Fabino 3 years ago
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Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B)’s 13F filing Monday shows the legendary investor’s bullish bets on several stocks, including Ally Financial Inc (NYSE:ALLY), and Amazon.com Inc (NASDAQ:AMZN).
Berkshire cut its stake in Activision Blizzard Inc (NADSAQ: ATVI) by 6.2% in the first quarter, taking its total holdings to 49.4 million shares with a market value of approximately $4.2 billion. The move comes amid Microsoft Corporation's (NASDAQ:MSFT) heavily scrutinized pending takeover deal for the gaming developer.
Berkshire maintained its bullish stance on Apple Inc (NASDAQ:AAPL), increasing its holdings by 2% with an additional 20,424,207 shares, taking the total shares to 915,560,382.
This makes Apple the largest holding in Berkshire’s portfolio, accounting for 46.44% of the total, up from the previous 38.9%. The estimated average price paid per share was $40.06, with the quarter-end price at $164.90.
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On financials, Bank of America Corp. (NYSE:BAC), American Express Co (NYSE:AXP), and Moody’s Corp (NYSE:MCO) remained key players in Berkshire’s portfolio.
The company increased its stake in Bank of America by 2% to 1,032,852,006 shares, representing 9.09% of the total portfolio. There was no change in the holdings of American Express and Moody’s Corporation, which accounted for 7.69% and 2.32% of the portfolio, respectively.
In the Energy sector, Chevron Corporation (NYSE:CVX) and Occidental Petroleum Corporation (NYSE:OXY) stood out.
Despite reducing its stake in Chevron by 18%, it still represented 6.65% of the portfolio. Berkshire increased its holdings in Occidental Petroleum by 8%, making it 4.07% of the total portfolio.
Berkshire Hathaway also introduced a new stake, purchasing 9,922,000 shares in Capital One Financial Corporation (NYSE:COF).
Related Link: Capital One Stock Is Rising After Warren Buffett’s Berkshire Hathaway Shuffled Bank Holdings: The Details