A Quick Look at Berkshire Hathaway’s Recent Moves
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A Quick Look at Berkshire Hathaway’s Recent Moves

Berkshire Hathaway made significant portfolio adjustments in Q3, converting billions of dollars worth of stocks into cash.
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

New securities filings by Wall Street’s most astute investors came to light this week, including those that revealed the latest holdings of Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A). Among several adjustments, the financial powerhouse sold its stakes in Activision Blizzard (NASDAQ: ATVI) and General Motors (NYSE: GM), reduced its stake in Amazon (NASDAQ: AMZN), and closed positions in Johnson & Johnson (NYSE: JNJ) and Procter & Gamble (NYSE: PG). 

Berkshire Sold Blue-Chip Stocks in Q3 and Exited Positions in Activision Blizzard and GM

Buffett reduced his positions in several blue-chip stocks in Q3 2023, turning billions of dollars worth of US-listed shares into cash. However, a portion of these funds was allocated to some fresh names.

Buffett’s Berkshire Hathaway completely exited his positions in the recently acquired Activision Blizzard and General Motors, selling 14,658,121 and 22,000,000 shares in those two companies. Simultaneously, the investment giant reduced its holdings in Chevron Corp and HP Inc. by 10.45% and 15.24%, respectively. Based on average trading prices, both holdings brought negative returns to Berkshire in the past three months. 

Further, Berkshire closed its minor positions in Johnson & Johnson and the consumer staples behemoth Procter & Gamble, each worth around $50 million at the end of Q2. Also, the conglomerate trimmed its stake in Amazon by 5% and sold shares in Mondelez International, Markel, and Globe Life. 

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Which Stocks Did Berkshire Buy in Q3?

Although Buffett’s Berkshire mainly cashed out, its adjustments in the third quarter also included some new investments.

The investment firm bought shares of three new companies in the latest period, including mass media company Liberty Media Corporation (NASDAQ: LSXMA), broadcasting firm Sirius XM Holdings (NASDAQ: SIRI), and Atlanta Braves Holdings (NASDAQ: BATRA). According to Yahoo Finance, Berkshire invested $161.26 million, $43.77 million, and $7.99 million into these three stocks. 

The Atlanta Braves had been split off from Liberty Media, another Berkshire bet, earlier this year. 

As of September 30, Berkshire’s equity portfolio totaled $318.6 billion. Over 2023, the firm has offloaded stocks amounting to $23.6 billion more than it acquired. These divestments have bolstered Berkshire’s unprecedented cash reserves, now equivalent to its substantial $156.8 billion stake in Apple.

In your opinion, what do Berkshire’s Q3 exits in blue-chip stocks signal? Let us know in the comments below.