By Jenna Telesca and Geoffrey Rogow Warren Buffett s Berkshire Hathaway Inc. posted an increased fourth-quarter profit Saturday, with the billionaire investor using his annual missive to.
Berkshire Hathaway Discloses $499M Investment in Marsh & McLennan
Warren Buffett’s Berkshire Hathaway Inc. on Tuesday announced two major new investments, revealing an $8.6 billion stake in the phone company Verizon Communications Inc. and a $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 $499 million stake in the professional services company Marsh & McLennan Cos.
To make room, Berkshire reduced its investments in several companies including Apple Inc., though at approximately $121 billion the iPhone maker remains by far its largest common stock holding.
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Newmont Corp and Barrick Gold Corp unveiled higher dividends as the world's top two gold producers share with investors the benefits of higher prices for the metal after trouncing Wall Street earnings estimates.