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Berkshire Hathaway reports new stake in Chevron, Verizon

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In their latest 13F statement, Berkshire Hathaway reported new stakes in Chevron and Verizon. Yahoo Finance's Julia La Roche joined Yahoo Finance Live to break down the details.

Video Transcript

SEANA SMITH: Some breaking news regarding Berkshire Hathaway. Julia La Roche has those details for us. Julia.

JULIA LA ROCHE: That's right, Seana. Warren Buffet's 13F has just crossed, providing insight into the Oracle of Omaha's fourth quarter stock picks. And he took a new stake in Verizon. Keep in mind Verizon is the parent company of Yahoo Finance. He snapped up 146.7 million shares. This is a new position, Seana. At the end of the year, this position was valued at around $8.6 billion.

Some other new stakes that Buffett added in the quarter include Chevron, also EW Scripps and Company. And just giving you a bit more insight here into Buffett's moves, he did exit JPMorgan Chase and also PNC Financial Services, trimmed some positions in Wells Fargo. Also trimmed his stake in Apple by about 6%. That's what I'm seeing here.

Also, it looks like he got out of Barrick Gold. That was a new position that he took in, I think-- I believe that was the second quarter of 2020. Exited Barrick Gold, also trimming some stakes across GM. US Bancorp, also trimmed some shares there as well.

So the big news here, of course, is a lot of folks were wondering what his new positions are. And just to emphasize, it's Verizon, 146.7 million shares. I'm looking at the stock price in the after hours session. It's about 2.5% higher. Seana, Adam.