On Tuesday, Berkshire Hathaway, led by billionaire Warren Buffett, revealed strategic shifts in its investment portfolio, signaling a departure from General Motors (GM) and Procter & Gamble (P&G) while reducing its stake in Amazon.com. The conglomerate, in a regulatory filing detailing its U.S.-listed stock holdings as of September 30, disclosed that it no longer holds any shares in GM and P&G, after reporting significant stakes of $848 million and $48 million, respectively, in June. Simultaneously, Berkshire trimmed its position in Amazon by 5%, a move that contributes to the conglomerate’s effort to amass a record-breaking cash reserve, which now stands at an impressive $157.2 billion.
The filing also hinted at the potential shedding of a $621 million stake in Celanese, a specialty materials company. However, amidst these adjustments, Berkshire initiated a new position with an $8 million stake in Atlanta Braves Holdings (BATRA.O), which indirectly controls the Major League Baseball team and The Battery Atlanta, a mixed-use development adjacent to the Braves’ Truist Park. This diversification comes after the Braves were separated from Liberty Media, another Berkshire investment, in July, showcasing Buffett’s strategic navigation of the ever-evolving investment landscape.