“The Oracle of Omaha” is continuing to deploy his massive cash reserves, revealing that he bought a major stake in HP, according to regulatory filings. The news sent HP’s stock up 14% in pre-market trading on April 7.

                By                    Yaёl Bizouati-Kennedy

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Warren Buffett’s Berkshire Hathaway now holds 121 million shares, bought in several transactions this week, according to a Securities and Exchange Commission (SEC) filing. The stake is valued at more than $4.2 billion, according to Bloomberg. 

On March 21, Berkshire Hathaway announced it acquired “mini Berkshire” insurer Alleghany Corp., for $11.6 billion on March 21, finally starting to deploy some of its massive cash reserves.

Indeed, in the third quarter of 2021, approximately $7.6 billion was used to repurchase Berkshire shares — bringing the nine-month total to approximately $20.2 billion, according to the earnings report. In January, the Oracle of Omaha’s conglomerate sat on more than $149 billion in cash, cash equivalents and short-term Treasury bills, up from $144 billion in the previous quarter.

And on Feb.14, Berkshire Hathaway released its stock investments as of Dec. 31, 2021, revealing the purchase of a large stake in Activision, according to the 13F filing with the SEC.

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Berkshire owned 14.66 million shares valued at $975 million as of the end of 2021, according to the 13F filing. Barron’s reported that the stock closed on Feb. 14 at $81.50. Berkshire’s stake of shares of Activision is now worth more than $1 billion. The stock was flat on Feb. 15 and is up 20% year-to-date.

The Activision stake was made just before Microsoft announced the acquisition plans in January, for $95 per share, in an all-cash transaction valued at $68.7 billion, inclusive of Activision Blizzard’s net cash. When the transaction closes, Microsoft will become the world’s third-largest gaming company by revenue, behind Tencent and Sony, according to a press release.