OMAHA, Neb. (AP) — Warren Buffett’s company placed a rare bet on a technology company late last year and it has already paid off in a big way.
Berkshire Hathaway revealed in documents filed with regulators on Monday that it bought near 15 million shares in game publisher Activision Blizzard during the last three months of 2021.
The purchase came not long before Microsoft’s announcement in January that it was acquiring Activision for $68.7 billion, sending the stock soaring.
The other changes to Berkshire’s roughly $330 billion portfolio revealed Monday were more typical for Buffett such as increasing its investment in oil giant Chevron, eliminating a stake in Teva Pharmaceuticals and trimming its investments in several other drugmakers.