Warren Buffett’s Berkshire Hathaway 2023: Sold GM Shares, Invested in MLB’s Atlanta Braves Owner

Key Highlights

• Berkshire Hathaway divested approximately $4.4 billion in Celanese Corp and $1 billion in General Motors during Q3 2023.
• Sold $1.6 billion worth of Activision Blizzard shares prior to Microsoft’s acquisition completion.
• Initiated a new position in Sirius XM with a $44 million investment.
• Expanded holdings in Liberty Media by purchasing an additional 15 million shares.
• Reduced significant stakes in HP and Chevron.

During the third quarter of 2023, Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) strategically exited its positions in General Motors and Celanese Corp, while increasing investments in Sirius XM and acquiring a stake in Atlanta Braves Holdings, the Major League Baseball franchise owner, as revealed in the recent 13-F filing.

Berkshire Hathaway Exits General Motors and Activision Blizzard

The most notable divestment was the complete exit from General Motors, closing a 22 million share position valued at approximately $850 million by the end of Q2 2023.

However, the largest sale by value was Berkshire’s divestment of over 14.6 million Activision Blizzard shares, totaling more than $1.2 billion at Q2’s close.

New Investments in Sirius XM and Atlanta Braves Holdings

Berkshire Hathaway’s only major new position in Q3 was acquiring roughly 9.7 million shares of Sirius XM Holdings (SIRI), valued just under $44 million.

Additionally, Berkshire purchased about 225,000 shares of Atlanta Braves Holdings (BATRA), marking a strategic entry into the sports franchise ownership sector during a relatively quiet quarter for new investments.

Significant Portfolio Adjustments

Buffett increased his Liberty Media (LSXMA) stake by over 16 million shares, bringing the total investment to an estimated $2.6 billion.

Conversely, Berkshire trimmed 5.4 million shares of Celanese Corp, valued around $620 million at the end of Q2 2023. Smaller reductions included shares in consumer goods giants such as Procter & Gamble (PG), Mondelez International (MDLZ), Johnson & Johnson (JNJ), and logistics leader United Parcel Service (UPS).

Significant reductions were also made in technology and energy sectors, with approximately 18 million shares sold in HP (HPQ), 13 million shares in Chevron Corp. (CVX), and 500,000 shares in Amazon (AMZN). Minor trims occurred in Markel (MKL) and AON (AON).

For further news and updates on Warren Buffett’s portfolio moves, stay tuned to ZAMONA’s comprehensive financial coverage.

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