Buffett's Berkshire discloses $528.7M Verizon bet

Berkshire Hathaway Inc. (NYSE: BRK/A) Chairman Warren Buffett is a betting man – and he doesn't do anything small.

According to Bloomberg, Berkshire Hathaway recently disclosed a holding in Verizon Communications Inc. (NYSE: VZ): 11 million shares valued at about $528.7 million.

Buffet is betting Verizon's recent buyout of partner Vodafone Group Plc is going to pay off in a big way. The acquisition will enable Verizon to stop paying a dividend to Vodafone and the company projects high profit margins this year.

Bloomberg reports Buffett, 83, has long championed a concentrated approach to stock investing. More than half of Omaha, Nebraska-based Berkshire’s $118.5 billion equity portfolio at the end of March was in four companies: Wells Fargo & Co. (NYSE: WFC) , Coca-Cola Co. (NYSE: KO), American Express Co. (NYSE: AXP) and International Business Machines Corp. (NYSE: IBM).

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