The Globe and Mail reports in its Wednesday edition that Warren Buffett's Berkshire Hathaway Inc. on Tuesday announced two major new investments, revealing an $8.6-billion share of Verizon Communications and a $4.1-billion stake in Chevron (all figures U.S.). A Reuters dispatch to the Globe says that Berkshire also sold its holding in Barrick Gold; Reuters did not elaborate. The investments were disclosed in a regulatory filing detailing Berkshire's U.S.-listed stockholdings as of Dec. 31. Berkshire also disclosed a new $499-million stake in the professional services company Marsh & McLennan Cos. Berkshire pared its investments in several companies including Apple, though at $121-billion the iPhone maker remains by far its largest holding. Verizon shares rose 3 per cent, Chevron rose 2.2 per cent and Marsh was unchanged in afterhours trading following Berkshire's filing. Tuesday's filing signals where Mr. Buffett and his portfolio managers Todd Combs and Ted Weschler see value, though Mr. Buffett normally handles larger investments. It also shows Berkshire is finding ways to deploy its cash hoard, which totalled $145.7-billion. The Omaha, Neb., conglomerate has gone five years since its last big takeover.
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