Buffett Buys Nearly 14 Million Share Of Carmax
Billionaire Warren Buffett's Berkshire Hathaway Inc. has bought nearly 14 million shares of Carmax Inc., the nation's largest specialty used-car retailer, according to a regulatory filing Wednesday.
Berkshire bought the shares -- its first stake in the Richmond, Va.-based company -- sometime in July, August or September, according to Berkshire's quarterly summary of its $65.8 billion portfolio of U.S. stocks.
Carmax operates 86 used car stores nationwide in 39 markets and is preparing to open a new store in Omaha next month about 12 miles west of Buffett's office. Carmax says it sold 337,021 used vehicles and 208,959 wholesale vehicles at auction last year.