New Delhi, May 1 (SocialNews.XYZ) Ace investor Warren Buffett's Berkshire Hathaway Inc is back in the market as his conglomerate made roughly $41 billion of net purchases in the first quarter, the media reported.
Bloomberg reported that the purchase provided a boost to its Chevron Corp stake that vaulted the investment into Berkshire's top four common stock holdings.
His stock buyings were thwarted due high valuations.
Buffett also disclosed that the company now holds an expanded 9.5 per cent stake in Activision Blizzard Inc. stock -- an arbitrage bet on the video-game maker in the midst of being acquired by Microsoft Corp, the Bloomberg report said.
Berkshire has not been this significant of a net buyer of common stocks in any quarter in data going back to 2008, it added.
The purchases in the first quarter helped chip away at Berkshire's cash pile, which ended the quarter at $106 billion, the lowest since the third quarter of 2018.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz