Buffett’s Berkshire reveals Big stakes in verizon, Chevron

Warren Buffett’s Berkshire Hathaway Inc on Tuesday announced two major new investments, revealing an us$8.6-billion stake in the phone company Verizon Communications Inc and a us$4.1-billion stake in oil company Chevron Corp. The investments were disclosed in a regulatory filing detailing berkshire’s u.s.-listed stock holdings as of dec. 31. berkshire also disclosed a new us$499-million stake in the professional services company Marsh & Mclennan Cos. Tuesday’s filing shows berkshire finding ways to deploy its cash hoard, which totalled us$145.7 billion as of Sept. 30, amid a fiveyear drought in finding large companies to buy outright. berkshire had begun investing in Verizon, Chevron and Marsh by last year’s third quarter.