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OMAHA — Warren Buffett said on Saturday that Berkshire Hathaway Inc has taken a 9.5% stake in Activision Blizzard Inc, and built most of that stake after Microsoft Corp agreed to buy the video game maker for $68.7 billion.
Berkshire had previously disclosed owning a much smaller Activision stake, purchased by one of the portfolio managers who help Buffett invest Berkshire’s money.
Speaking at Berkshire’s annual meeting, Buffett said he was responsible for the additional investment, and that Berkshire would file a report with regulators if its Activision stake exceeded 10%.
Berkshire disclosed earlier on Saturday that it spent more than $51 billion on equities in the first quarter.
It has made multibillion dollar investments this year in oil companies Chevron Corp and Occidental Petroleum Corp , as well as computer and printer maker HP Inc.
Berkshire also agreed in March to pay $11.6 billion in cash for the insurance company Alleghany Corp. (Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Daniel Wallis)
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