Scheduled regulatory filings rarely cause too much of a ruckus in the markets, but this time, investors got excited about a stock that doesn't often get a lot of buzz. Shares of telecommunications giant Verizon got an uncharacteristic pop in trading because of some notable investor activity.
Every quarter, America's biggest money managers have to disclose their stock holdings to the public. It's something called an SEC Form 13-F. It sounds complicated, but in essence, it's just a list of holdings that each manager has at the end of each calendar quarter. The report must be filed within 45 days of the end of the quarter, and the latest filings show that some big-name investors got into Verizon stock in a big way.
Among the biggest names getting involved: Warren Buffett. His Berkshire Hathaway disclosed a new 11-million-share stake in Verizon. At current market prices, the stake is worth somewhere around $539 million. Of course, when it comes to any new stake that Berkshire takes, one of the immediate questions is whether or not Buffett actually made the call, or if it was one of his top lieutenants, Todd Combs or Ted Weschler. Berkshire's stake in Verizon is large, but whether or not this is a "Buffett pick" is still a question for investors.