Bruce Berkowitz’s Fairholme Capital Management reported an equity portfolio of approximately $1.2–1.3 billion in the latest quarter, continuing its hallmark approach: a highly concentrated, value-oriented portfolio focused on a small number of deeply researched positions. The portfolio remains dominated by a few core holdings — most notably real estate development, energy infrastructure, and financials — reflecting Berkowitz’s long-standing willingness to run substantial single-name exposure when conviction ...

Core Insights - Apple Inc. (NASDAQ:AAPL) is set to allow third-party voice-activated AI applications to utilize CarPlay, marking a shift from its previous Siri-only policy, which could enhance the in-car AI experience for users [2][3] - The company is expected to launch the iPhone 17e with MagSafe and an updated iOS 26.4 beta, indicating ongoing product development and innovation [4] - Apple continues to focus on an integrated ecosystem of hardware, operating systems, and digital platforms to generate recurring revenue globally [5] Group 1 - Apple Inc. ranks third in John Overdeck's top holdings with a portfolio share of 2.79%, equivalent to $1.39 billion [1] - The introduction of third-party AI apps on CarPlay is anticipated to enhance the relevance of Apple's ecosystem as vehicles become more software-driven [3] - Siri will remain the default wake command, but automatic voice activation for third-party apps is expected to be enabled soon [3] Group 2 - The company is actively developing a pipeline for software and hardware to support product momentum [4] - Two Sigma Investments holds NVIDIA Corporation (NASDAQ:NVDA) as its top position, while acknowledging the potential of Apple as an investment [6] - The focus on consumer electronics and software, including the iPhone and Mac, is central to Apple's strategy for generating recurring revenue [5]

Core Viewpoint - Apple Inc. (NASDAQ:AAPL) remains a favored stock for Jim Cramer, who advocates for holding shares rather than trading them, despite a year-to-date decline of 5.6% [2]. Group 1: Stock Performance - Apple Inc.'s stock has increased by 4.5% over the past year [2]. - The stock is currently down by 5.6% year-to-date [2]. Group 2: Analyst Ratings - Evercore ISI maintains an Outperform rating with a $330 price target for Apple Inc. [2]. - Goldman Sachs also holds a Buy rating with a $330 price target [2]. Group 3: AI Developments - The launch of Apple Inc.'s Apple Intelligence AI platform may face delays due to internal testing issues [2]. - Apple has reportedly saved billions in AI investments by partnering with Google [2][3]. Group 4: Market Insights - Cramer describes Apple as "the greatest free rider in history," indicating a strong position in leveraging AI advancements without significant investment [3].

马克・古尔曼披露了苹果即将推出的新一代系统 iOS 27 的多项全新细节。 苹果此次旨在对系统代码进 行"精简整理"、升级老旧应用，并微调界面设计，有望借此提升设备续航表现。此前已有消息称，iOS 27 的研发重心将以性能优化与系统稳定性为主。而本次报道进一步披露了苹果实现这一目标的三大核 心方向： 清理系统中残留的老旧代码"碎片" 对界面进行小幅微调，无大规模改版 对老旧应用进行隐性 升级，以"提升运行效率" 古尔曼表示，随着此次全面的代码清理工作推进，苹果工程师也在同步致力 于提升续航。此外，苹果还将在 iOS 27 中重点升级 AI 功能。 ...

Core Viewpoint - The current stock market rally, while impressive, is at risk due to underlying issues related to earnings quality rather than just external factors like tariffs and trade policies [1][4][11]. Market Performance - The S&P 500 rose by 16% last year, marking its third consecutive year of gains of at least 16%, while the Dow Jones Industrial Average and Nasdaq Composite also saw significant increases [2]. - The market is currently experiencing high valuations, with the Shiller Price-to-Earnings (P/E) Ratio fluctuating between 39 and 41, making it the second-priciest market in history [14]. Impact of Tariffs - President Trump's tariffs have led to a 10.5% decline in the S&P 500 over two days following their announcement, marking one of the steepest declines since 1950 [6]. - The tariffs have had a modest inflationary impact, increasing production costs for certain businesses and leading to higher consumer prices [10]. Earnings Quality Concerns - Earnings quality is a significant issue, with many companies relying on non-operational income sources to boost their earnings figures [15][22]. - Tesla's earnings are heavily influenced by regulatory credits and interest income, which accounted for 63% of its pre-tax income in 2025 [18]. - Apple has utilized a substantial share buyback program to enhance its earnings per share (EPS), masking slower sales and profit growth [20][21]. Conclusion - The reliance on non-innovative income sources among leading companies raises concerns about the sustainability of their earnings, which could pose risks to investors in a historically expensive market [22].

Core Insights - Apple Inc. experienced a week of mixed outcomes, facing challenges while also celebrating significant victories [1] Group 1: Market Performance - In January 2026, Apple's performance in the Chinese smartphone market stood out despite an overall 23% year-over-year decline in smartphone sales [2] Group 2: Legal and Regulatory Issues - The FTC Chairman raised concerns regarding alleged political bias in Apple News, addressing Tim Cook in a letter about the promotion of left-wing content over conservative publications [3] - Apple achieved a major legal victory when a jury dismissed claims from Optis Wireless regarding patent infringement related to 4G technology [4] Group 3: Stock Performance - Following reports of a potential delay in new Siri features, Apple's stock saw a temporary decline of 1.2% [5] Group 4: Future Outlook - Tim Cook announced plans to celebrate Apple's 50th anniversary, with expectations of new smartphone releases and record financial results in 2026 [6]

根据美国证券交易委员会(SEC)披露，摩根士丹利递交了截止至2025年12月31日的第四季度持仓报告 (13F)。整体来看，大摩Q4持仓变化呈现出"维持核心科技主线、降低指数化敞口、强化主动精选能 力"的特征。 增持方面，大摩还加仓了摩根大通(JPM.US)、优步(UBER.US)和黄金ETF(GLD.US)等。 建仓方面，大摩买入了Medline(MDLN.US)、道达尔(TTE.US)、QnityElectronics（Q.US)、 Solstice(SOLS.US)和梦龙(MICC.US)等。其中，摩根大通和高盛Q4也建仓了道达尔，贝莱德Q4也建仓了 QnityElectronics和Solstice。 从持仓比例变化来看，前五大买入标的为：谷歌C、礼来(LLY.US)、苹果、美光(MU.US)、富时成熟市 场ETF-Vanguard(VEA.US)。 前五大卖出标的包括：道富旗下SPDR标普500指数ETF(SPY.US)、纳指100ETF-Invesco(QQQ.US)、家得 宝(HD.US)、ServiceNow(NOW.US)、MercadoLibre(MELI.US)。 据统计，大摩第四季度持 ...

美东时间下周二(2月17日)是投资机构向美国SEC提交13F季度持仓文件的截止时间，外界预计伯克希尔-哈撒韦这次也将"掐点"发布该报告。 | Stock | History | Sector | Shares Held or Principal | Market > Value | % of Portfolio | Previous % of Portfolio | Rank | Change in Shares | 0/0 Change | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | Amt | | | | | | | | AAPL | History | INFORMATION TECHNOLOGY | 238,212,764 | 60,656,116,097 | 22.69% | 22.31% | 1 | -41,787,236 | -14.92% | | AXP | History | FINANCE | 151,610,700 | 50,359,010,112 | 18.84% | 18.78% | 2 ...

根据美国证券交易委员会(SEC)披露，摩根士丹利递交了截止至2025年12月31日的第四季度持仓报告(13F)。整体来看，大摩Q4持仓变化呈现出"维持 核心科技主线、降低指数化敞口、强化主动精选能力"的特征。 据统计，大摩第四季度持仓总市值为1.67万亿美元，上一季度总市值为1.65万亿美元，环比上升1.2%。该基金在第四季度的投资组合中新增了 454只个股，增持了4007只个股，减持了3028只个股，清仓了415只个股。其中前十大持仓标的占总市值的22.15%。 在 其 他 科 技 股 中 ， Meta(META.US) 获 得 了 约 82 万 股 增 持 ， 特 斯 拉 (TSLA.US) 被 减 持 了 36 万 股 ， AMD(AMD.US) 被 减 持 了 502 万 股 ， Palantir(PLTR.US)被减持了103万股，博通(AVGO.US)被减持了近4.4万股。 整体来看，大摩并未显著降低对科技板块的配置权重，而是通过内部调仓进行再平衡，更偏向于盈利确定性与现金流稳定性较强的龙头公司。 减持方面，大摩还减持了医疗股如强生(JNJ.US)、艾伯维(ABBV.US)、赛默飞世尔(TMO.U ...

昨晚，美国公布了最新的CPI数据：1月的未季调CPI年率从2.7%降至2.4%，创下2025年5月以来的新低，市场预期为2.5%。而1月未季调核心CPI年率则从 2.6%回落至2.5%，也创下了自2021年3月以来的最低水平，符合市场预期。根据智通财经报道，美国利率期货市场反应较为积极，将美联储在6月放宽政 策的概率从公布前的63%上调至69%。与此同时，交易员们预计美联储今年会有第三次降息的概率为50%。在CPI数据公布后，市场对美联储未来降息的 预期有所上升，2026年美联储降息幅度预期从58个基点升至61个基点。 | 道琼斯工业 | 纳斯达克指数 | 标普500 | | --- | --- | --- | | 49500.93 | 22546.67 | 6836.17 | | +48.95 +0.10% | -50.48 -0.22% | +3.41 +0.05% | | 美国科技七巨头 | 中概科技龙头 | 中国金龙 | | 61603.43 | 4019.83 | 7591.86 | | -815.13 -1.31% | +5.81 +0.14% | -7.48 -0.10% | 截至当天收盘，美国 ...