Read Time28 Second
Warren Buffett’s Berkshire Hathaway Inc. reduced the number of stocks in its portfolio in the third quarter, exiting stakes in General Motors Co. and Activision Blizzard Inc. while trimming bets on companies including HP Inc.
The conglomerate’s retreat from Activision completes Buffett’s arbitrage play amid the video-game maker’s prolonged effort to merge with Microsoft Corp., which ran into antitrust scrutiny before the deal was completed in October.
