Buffett’s Berkshire Cuts Activision, Unveils Homebuilder Bet
- Pares stake in video-game maker by 70% amid antitrust scrutiny
- Conglomerate discloses stakes in D.R. Horton, NVR and Lennar
Warren Buffett
Photographer: Scott Eells/Bloomberg
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Warren Buffett’s Berkshire Hathaway Inc. slashed its stake in Activision Blizzard Inc. by 70% during the second quarter amid the video-game maker’s prolonged effort to merge with Microsoft Corp. and disclosed a bet on the housing market.
The conglomerate also exited its position in insurance broker Marsh McLennan, and trimmed positions in other companies including Chevron Corp, according to a filing Monday. Berkshire reported new holdings in homebuilders D.R. Horton Inc., NVR Inc. and Lennar Corp.