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Berkshire Sold GM Shares, Bought MLB Team Stake

According to a recent 13-F filing, Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) withdrew investments 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.

Buffett Leaves General Motors and Activision Blizzard
The sale of its 22 million shares in General Motors was likely Berkshire’s most dramatic departure this quarter. At the conclusion of the second quarter, that shareholding was worth around $850 million.

However, it was not the most valuable departure for the corporation. That would represent the selling of more than 14.6 million Activision Blizzard shares valued at more than $1.2 billion at the end of the second quarter.

New Bets on Sirius XM and the Owner of the Atlanta Braves
Berkshire’s sole large new stake last quarter was a $44 million acquisition of about 9.7 million shares of Sirius XM Holdings (SIRI).

In a very quiet quarter for new investments, Atlanta Braves Holdings (BATRA) was the only other name Berkshire added to its holdings list for the quarter, with a purchase of about 225,000 shares.

Significant Position Shifts
Buffett made just one big upward adjustment to his previous holdings: his business purchased more than 16 million extra shares of Liberty Media (LSXMA), bringing his total interest to an estimated $2.6 billion.

However, 5.4 million shares of Celanese Corp., valued at approximately $620 million at the end of the second quarter, were on the block. Buffett’s team sold shares in consumer goods businesses such as Procter & Gamble (PG), Mondelez International (MDLZ), and Johnson & Johnson (JNJ), as well as United Parcel Service (UPS) among other smaller departures.

Berkshire Hathaway made a greater number of important cuts. During the quarter, the business cut its stake in HP (HPQ) by around 18 million shares. It also sold around 13 million shares of Chevron Corporation (CVX) and 500,000 shares of Amazon (AMZN). Markel (MKL) and AON (AON) are two smaller trims.

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