Warren Buffett's Berkshire Sold GM Shares, Bought Stake In An MLB Team Owner

Warren Buffett

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Key Takeaways

  • Warren Buffett's Berkshire Hathaway exited positions in Celanese Corp. and General Motors, worth about $4.4 billion and $1 billion, respectively.
  • The firm also sold off its $1.6-billion position in Activision before Microsoft completed its acquisition of the game developer.
  • The only major new position Buffett took in the quarter was Sirius XM, with a purchase of about $44 million in shares.
  • Buffett bulked up his position in Liberty Media by adding about 15 million shares.
  • He also sold off large portions of his stakes in HP and Chevron.

Warren Buffett's Berkshire Hathaway (BRK.A) (BRK.B) exited its positions in General Motors and Celanese Corp. (CE) in the third quarter but bought shares of Sirius XM and acquired a stake in Atlanta Braves Holdings, according to a recent 13-F filing.

Buffett Moves On From General Motors, Activision Blizzard

Closing of its 22 million share position in General Motors was perhaps the most notable exit for Berkshire this quarter. That stake was valued at roughly $850 million at the end of the second quarter.

But it wasn't the company's largest exit in terms of value. That would be the sale of more than 14.6 million shares of Activision Blizzard that were valued at more than $1.2 billion at the end of Q2.

New Bets on Sirius XM and Atlanta Braves Owner

The only significant new position for Berkshire last quarter was a purchase of about 9.7 million shares of Sirius XM Holdings (SIRI) valued at just under $44 million.

In a relatively light quarter for new positions, the only other name Berkshire added to its list of holdings for the quarter was Atlanta Braves Holdings (BATRA), with a purchase of around 225,000 shares.

Notable Position Changes

Buffett made just one significant adjustment upward to his prior holdings: His firm bought more than 16 million additional shares of Liberty Media (LSXMA), with his total position now worth an estimated $2.6 billion.

However, on the chopping block were 5.4 million shares of materials company Celanese Corp. that were valued at roughly $620 million at the end of the second quarter. Among smaller exits, Buffett's team sold shares of consumer products companies such as Procter & Gamble (PG), Mondelez International (MDLZ), and Johnson & Johnson (JNJ) as well as United Parcel Service (UPS).

Berkshire made a larger number of significant trims. The firm reduced its position in tech giant HP (HPQ) by about 18 million shares across the quarter. It also sold off a total of roughly 13 million shares of Chevron Corp. (CVX) and 500,000 shares of Amazon (AMZN). Smaller trims include Markel (MKL) and AON (AON).

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  1. Berkshire Hathaway Inc. "Form 13-F for the period ended Sept. 30, 2023."

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