Group 1 - Berkshire Hathaway reduced its stake in Amazon by over 75% in Q4, while investing $351.7 million in the New York Times Company [1][3] - The company acquired 5.1 million shares of the New York Times Company, valued at $351.7 million at year-end [3] - Berkshire continued to trim its stakes in Bank of America and Apple, reducing them to 7.1% and 1.5%, respectively [4] Group 2 - Berkshire increased its stakes in Chevron and Chubb to 6.5% and 8.7%, respectively, during the same period [5] - Chubb's shares rose approximately 11% in Q4 after reports of an informal approach to acquire American International Group Inc. [5] - Warren Buffett has been active in making purchases, including a $9.7 billion deal for Occidental Petroleum Corp.'s petrochemical business and a $5.6 billion stake in Alphabet Inc. [6]

Core Viewpoint - Amazon's stock has declined approximately 13% year-to-date in 2026 despite better-than-expected fourth-quarter revenue and strong sales guidance for Q1 [1][2] Financial Performance - Amazon's fourth-quarter revenue increased by 14% year-over-year to $213.4 billion, with Amazon Web Services (AWS) contributing 17% of that revenue [11] - AWS revenue rose 24% year-over-year in Q4, up from 20% in Q3, indicating strong growth in a segment with an annual run rate exceeding $140 billion [6][11] Capital Expenditures and Growth Strategy - Management plans to invest $200 billion in capital expenditures in 2026, focusing on growth opportunities, particularly in artificial intelligence (AI) [2][10] - The company believes this significant investment will yield strong long-term returns on invested capital [2][10] AI and Cloud Computing Opportunities - Amazon's cloud computing business is experiencing substantial growth driven by demand for AI, with customers increasingly running AI workloads on AWS [7] - The company is also seeing momentum in its AI chip business, particularly with the Trainium2 chip, which has become a multibillion-dollar annualized product [9] Market Position and Valuation - Amazon's stock is currently valued at about 28 times earnings, which may not be a bargain but is considered sensibly priced given the company's financials [11] - AWS's operating income accounted for half of Amazon's fourth-quarter operating income and 57% of its full-year operating income, highlighting its importance to the overall business [11][12] Investment Perspective - Despite the stock's decline, there is a belief that it may represent a buying opportunity due to the company's impressive growth prospects [3][12] - The heavy reliance on AWS presents both risks and opportunities, as increased capital expenditures could enhance overall margins and drive long-term earnings growth [12]

亚马逊持股猛降77%。亚马逊是四季度减持幅度最大的个股，持股数量降至约230万股，环比减少逾77.2%，持仓占比从0.82%骤降至0.19%。 【环球网财经综合】2月17日，伯克希尔·哈撒韦向SEC提交13F文件，披露2025年第四季度持仓。这是"股神"巴菲特执掌公司60年的最后一份持仓报告，其 继任者Greg Abel已于2026年1月1日正式接任CEO。 具体来看，伯克希尔四季度继续调整科技与金融重仓股，同时首次建仓传统媒体纽约时报。 持续减持苹果与美银。伯克希尔连续第三个季度减持苹果，四季度抛售1029万股，持股数环比减少4.3%，季末持仓市值减少约28亿美元，但苹果仍为头号 重仓股。美国银行遭减持近5080万股，持股数环比减少8.9%，过去一年半累计减持约50%。 纽约时报是伯克希尔四季度唯一新建仓个股，买入506.7万股，市值约3.52亿美元，持有约3.1%股份。持仓公布后，纽约时报股价盘后一度涨超10%。 值得一提的是，四季度伯克希尔增持雪佛龙逾809万股，持仓市值增加约12.3亿美元；增持安达保险近292万股，持股数环比增长9.3%。此外还增持达美乐披 萨36.8万股，持仓增至约14亿美元。 此 ...

Key TakeawaysWidespread digital disruptions hit major platforms including Alphabet (GOOGL), Amazon Web Services (AMZN), and Cloudflare (NET), with YouTube reporting over 240,000 user outages in the U.S.The Reserve Bank of New Zealand (RBNZ) maintained its Official Cash Rate at 2.25%, signaling that monetary policy will remain accommodative for an "extended period" to support a nascent recovery.Anthropic is reportedly planning to spend at least $80 billion through 2029 on cloud infrastructure from Amazon (AM ...

美股频道更多独家策划、专家专栏，免费查阅>> 2月18日，根据美国证券交易委员会披露的信息，老虎环球管理公司（Tiger Global Management）和 Adage Capital Partners等投资者在2025年第四季度减持了一些人工智能重量级公司的股票，其中包括英 伟达和亚马逊。一些主要投资者日益担心 "华丽七巨头"（包括Meta和微软）的估值已变得过高，而且 它们在人工智能技术上的巨额支出将无法带来足够的回报，而这些季度13-F文件让人们了解了这些投资 者的反应。 老虎环球在第四季度将其持有的微软股票从截至2025年9月30日的650万股减少到547万股。但该对冲基 金仍是微软最大的投资者之一，持股价值达 26 亿美元。老虎对亚马逊的持股也进行了较小规模的减 持，减持幅度为 9.35%，截至 2025 年底，亚马逊持股为 1,000 万股，价值 23 亿美元；老虎还减持了英 伟达的持仓，目前价值 21 亿美元。Adage Capital披露，该公司在微软、Alphabet 和亚马逊以及英伟达 等公司的减持幅度较小，在1%到3%之间。但Adage还将其在甲骨文（另一家涉足人工智能主题的公 司） ...

当地时间2月17日，美股在"AI叙事分化"背景下走势震荡，标普500指数盘中一度下跌接近1%，尾盘回升最终收涨 0.1%。盘面上，软件板块继续承压，iShares扩展科技软件行业ETF年初至今已累跌23.23%，投资者仍在担忧AI将颠覆 现有软件公司的商业模式。另一方面，微软、Meta等科技巨头虽然也面临资本开支过高的质疑，但市场仍认可其在AI 基础设施建设阶段的龙头地位。 当地时间2月17日美股盘后，伯克希尔哈撒韦公司（下简称"伯克希尔"）向美国证监会（SEC）披露了最新13F文件。 13F持仓报告显示，在巴菲特担任CEO的最后一季度，伯克希尔继续调整科技巨头持仓，连续减持苹果公司、美国银 行等重仓股的同时，首次建仓传统媒体纽约时报。 美股三大指数小幅收涨 软件股持续承压 当地时间周二，美股三大股指小幅收涨，道指涨0.07%报49533.19点，标普500指数涨0.1%报6843.22点，纳指涨0.14% 报22578.38点。 盘面上，苹果涨超3%，耐克涨逾2%，领涨道指。大型科技股涨跌互现，亚马逊、英伟达涨逾1%，特斯拉、微软、谷 歌跌超1%，Meta跌0.08%。芯片股涨跌不一，费城半导体指数跌0.0 ...

#巴菲特正式退休# ...

The Oracle of Omaha's final quarter as Berkshire Hathaway CEO revealed more significant net selling activity, and one curious $352 million purchase.Data is the fuel that keeps Wall Street running -- and few announcements are more telling than the quarterly filing of Form 13F with the Securities and Exchange Commission. A 13F provides investors with a road map of the stocks that Wall Street's savviest money managers bought and sold in the latest quarter.The latest round of 13Fs features the last trading acti ...

美股近期陷入了"基本面良好，技术面不佳"的窘境。 经历了上周五的大跌，在"长周末"归来后，本周第一个交易日美股暂时企稳。 截至美东时间17日收盘，标普500指数收涨7.05点，涨幅0.10%，报6843.22点；道琼斯工业平均指数收涨32.26点，涨幅0.07%，报49533.19点；纳斯 达克综合指数收涨31.713点，涨幅0.14%，报22578.384点。纳斯达克100指数收跌31.135点，跌幅0.13%，报24701.597点。 科技股涨跌不一，谷歌和微软跌超1%，谷歌C跌1.05%，微软跌1.11%，Meta跌0.08%，特斯拉跌1.63%，英伟达涨1.2%，苹果涨3.17%，亚马逊涨 1.19%。软件谷持续承压，AppLovin跌3.66%，赛富时跌2.86%，Datadog跌2.11%。 多位投行交易员和一线投资人士对第一财经表示，美股近期陷入了"基本面良好，技术面不佳"的窘境。简单而言，在去年10月标普触及6800点之 后，指数已在此横盘近半年，即使上周非农就业数据大超预期、消费者价格指数（CPI）降温，指数仍未能达到逃逸速度并突破7000水平，反而机 构投资者开始继续抛售科技股。可见，美股 ...

伯克希尔连续三季抛苹果，Q4苹果持仓市值减少28亿美元，仍是头号重仓股；美银持股一年半来减少50%，仍是 第三大重仓股；亚马逊持股环比减少230万股、降幅77%；新进纽约时报超过506万股，市值3.52亿美元；增持雪 佛龙12.3亿美元、安达保险持股数增逾9%。纽约时报盘后一度涨超10%。 伯克希尔·哈撒韦公司在"股神"巴菲特卸任CEO前最后一个季度继续调整科技巨头持仓，减持多只重仓股的同时， 首次建仓传统媒体纽约时报。 美东时间2月17日周二美股盘后，递交美国证监会（SEC）的13F文件披露，伯克希尔2025年第四季度大幅削减所 持亚马逊股份（AMZN）超过77%，并且连续第三个季度减持苹果（AAPL）。伯克希尔还继续抛售美国银行 （BAC），对该行的持股比例降至略低于7%。 纽约时报（NYT）是伯克希尔四季度唯一新进的个股，当季建仓超过506万股，市值约3.52亿美元。持仓公布后， 纽约时报股价盘后一度涨超10%，后收窄过半涨幅。 本周二公布的是巴菲特执掌伯克希尔60年的最后一份13F持仓报告，巴菲特的继任者Greg Abel已于2026年1月1日正 式接任CEO。伯克希尔将于2月28日公布全年业绩，届时 ...