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Buffett's company discloses new Verizon investment

Published on NewsOK Modified: May 15, 2014 at 5:45 pm •  Published: May 15, 2014

OMAHA, Neb. (AP) — Warren Buffett's company disclosed a new investment of 11 million shares in Verizon Communications Inc. Thursday and increased its stakes in Wal-Mart and IBM.

Berkshire Hathaway Inc. revealed the changes to its $106 billion portfolio in documents filed with the Securities and Exchange Commission that show what company owned at the end of March.

The Verizon investment was the only new one disclosed.

Berkshire bought 8.6 million Wal-Mart Stores Inc. shares to increase its investment in the retail giant to 58 million shares. Buffett has said in the past that he regretted not buying more Wal-Mart stock earlier when he was building Berkshire's stake in the company.

Berkshire also bumped up its IBM Corp. investment to 68.4 million shares by buying 233,100 shares in the quarter.

Many investors watch the quarterly filings closely because they like to copy moves Buffett makes because of his successful record.

Berkshire officials don't routinely comment on the Omaha-based company's stock moves beyond what they are legally required to disclose. Officials at the company Buffett leads as chairman and CEO did not immediately respond to a request for comment Thursday.

Most of the latest changes were likely made by Berkshire's two other investment managers, who each manage about $7 billion, because they were relatively small compared to Buffett's typical investments. But the Wal-Mart and IBM moves were likely his because of the size of those investments.

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