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Warren Buffett Discloses Increased Stake In Verizon, Chevron & More

By John F. Heerdink, Jr.

Reportedly, Warren Buffett’s Berkshire Hathaway disclosed its new stake in Verizon Communications (VZ) with 147.6 million shares, a stake valued at around $8.6 billion at the end of 2020, according to a 13-F securities filing making it the 6th largest position in its portfolio. Berkshire Hathaway also disclosed its new stakes in Chevron (CVX) with 48.5 million shares of Chevron worth $4.1 billion, according to a regulatory filing.

The Verizon stake is up sharply from the end of the third quarter when Berkshire owned 58.4 million Verizon shares worth $3.4 billion. The Chevron stake rose more modestly in the fourth quarter, from 44.3 million at the end of the third quarter. 

The filing further revealed that Berkshire increased its stakes in pharmaceutical companies including AbbVie, Bristol Myers Squibb, and Merck (MRK), positions first disclosed in the third quarter of 2020. Berkshire sold all of its Pfizer shares. The filing shows that Berkshire Hathaway exited its positions in JPMorgan Chase (JPM) & PNC Financial and trimmed its stake in Apple (AAPL) by about 6%, selling 57.16 million shares. However, Apple is still Berkshire Hathaway’s largest stock holding.

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(Read Original Story: Warren Buffett’s Mystery Investments Are Verizon and Chevron. Here’s Why the 2 Stocks Make Sense in Barron's)


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