Buffett's Berkshire Unveils Homebuilder Bet, Cuts Activision

Bloomberg2023-08-15

Pares stake in video-game maker by 70% amid antitrust scrutinyConglomerate discloses stakes in D.R. Horton, NVR and LennarWarren Buffett’s Berkshire Hathaway Inc. slashed its stake in Activision ...

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Ms Mac
2023-08-15
Ms Mac
These people have got a great team! I need me some people like this! 👍

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Horton, NVR and LennarWarren Buffett’s Berkshire Hathaway Inc. slashed its stake in Activision ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-08-14/buffett-s-berkshire-cuts-activision-unveils-new-homebuilder-bet?srnd=premium-asia\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DHI","symbol_name":"霍顿房屋","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2023-08-14/buffett-s-berkshire-cuts-activision-unveils-new-homebuilder-bet?srnd=premium-asia","article_id":"1117420649","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1117420649","pubTimestamp":1692054038,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Pares stake in video-game maker by 70% amid antitrust scrutinyConglomerate discloses stakes in $D.R. 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Horton, NVR and LennarWarren 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. Berkshire reported new holdings in homebuilders D.R. Horton Inc., NVR Inc. and Lennar Corp.All were made during the second quarter, a down period for Berkshire's homebuilding and remodeling businesses such as Clayton Homes, Benjamin Moore paint and Johns Manville insulation as rising interest and mortgage rates slowed demand.But Berkshire said those effects have been partially offset by new construction activity resulting from low inventory of existing homes for sale, an environment that could benefit homebuilders.Berkshire said that as of June 30, it owned about 5.97 million DR Horton shares worth $726.4 million, about 153,000 Lennar shares worth $17.2 million, and 11,112 NVR shares worth $70.6 million.Shares of DR Horton rose 2.8% and Lennar rose 2% in after-hours trading. NVR's stock price tops $6,000 and its shares therefore trade more thinly.Berkshire was a net seller of equities during the three months ended June 30, divesting about $7.98 billion more of shares than it bought.The largest US homebuilders have been outperforming smaller rivals, with stocks rallying and the companies welcoming an onrush of buyers frustrated by a severe shortage of existing-home listings.Lennar, D.R. Horton and NVR are all up more than 30% this year.Shares of Activision Blizzard have gained 19% this year, but the proposed deal with Microsoft has run into antitrust scrutiny, delaying the process. While Buffett, 92, plowed into the stock as a merger arbitrage play after the deal was announced, he has since pared his stake in the company.Recent disclosures from Berkshire related to its stock portfolio revealed a departure from its long-held strategy of buying shares and holding them for the long term. Berkshire revealed a stake in Taiwan Semiconductor Manufacturing Co. last year, only to largely rotate out of that position in subsequent months.Buffett said the decision to cut the stake was his, even as he continued to praise the chipmaker.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":209024822874224,"gmtCreate":1692055415872,"gmtModify":1692064375080,"author":{"id":"4154829472582542","authorId":"4154829472582542","name":"Ms Mac","avatar":"https://community-static.tradeup.com/news/c4c938e29d6018f3e19c47fbd97ba98a","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4154829472582542","authorIdStr":"4154829472582542"},"htmlText":"These people have got a great team! I need me some people like this! 👍&nbsp;&nbsp;","listText":"These people have got a great team! I need me some people like this! 👍&nbsp;&nbsp;","text":"These people have got a great team! 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