Core Insights - Billionaire David Tepper's Appaloosa Management has made significant adjustments to its investment portfolio, focusing on semiconductor recovery while taking profits from Chinese tech and major tech stocks [1] Group 1: Investment Strategy - Appaloosa has aggressively increased its position in Micron Technology, Inc. (NASDAQ:MU), with a 250% increase in shares, adding 1,000,000 shares during the quarter, bringing the total to 1.5 million shares valued at over $428 million [2] - Tepper is shifting focus towards hardware components that support AI, rather than investing in chip designers [2] Group 2: Portfolio Adjustments - Despite reducing its stake, Alibaba remains the largest holding in Appaloosa's portfolio, now representing 10.88%, down from 15.61% in the previous quarter [3] - The fund has also reduced its positions in other major tech companies, including Amazon (NASDAQ:AMZN) by 12.8% (approximately 320,000 shares) and Nvidia (NASDAQ:NVDA) by 10.5% (liquidating 200,000 shares) [3]

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超过77%，并且连续第三个季度减持苹果。伯克希尔还继续抛售美国银行，对该 行的持股比例降至略低于7%。 纽约时报是伯克希尔四季度唯一新建仓的个股，当季买入超过506万股，市值约3.52亿美元。消息公布 后，纽约时报股价在盘后交易中一度上涨超过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。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 本周二公布的是巴菲特执掌伯克希尔60年后的最后一份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，届时将发布Abel作为CEO的首封致 股东信。 ...

来源：环球市场播报 周二，Alphabet 与微软股价均下跌超 1%，Meta 股价收盘跌幅不足 1%；微软与 Alphabet 均已连续5 个 交易日收跌。 亚马逊 CEO 安迪・贾西为公司巨额投入辩护，在分析师电话会议上表示，他有信心这些投入将带来可 观的资本回报率。 自 2 月 2 日至上周五，该股市值累计蒸发约18%，创下2006 年以来最严重的连跌行情，市值缩水超 4500 亿美元，原因是投资者对其人工智能投入计划的合理性提出质疑。 亚马逊股价遭抛售与本月早些时候发布的第四季度财报直接相关。 亚马逊表示，预计今年资本支出将达 2000 亿美元，较去年增长近 60%，比华尔街预期高出 500 多亿美 元。其中大部分资金将投向人工智能相关项目，包括数据中心、芯片和网络设备等基础设施建设。 投资者对科技企业巨额 AI 投入及其可能压缩甚至耗尽自由现金流的风险愈发担忧。 谷歌母公司 Alphabet、微软、Meta 与亚马逊今年的资本支出总额有望达到7000 亿美元，各家都在加速 扩建基础设施。 亚马逊股价周二收盘上涨超 1%，终结了长达 9 天的连续下跌，期间市值蒸发数千亿美元。 亚马逊云科技（AWS）C ...

Market Overview - Stocks showed a mixed performance with the Dow Jones Industrial Average up by about 18 basis points, NASDAQ Composite increasing by approximately 0.33%, and S&P 500 rising by 0.3% [2][4] - The Russell 2000 index also climbed into positive territory, reflecting a broader market recovery [3] - The bond market remained stable, with the 30-year T-bond yield down to 4.69% and the 10-year yield around 4.06% [3] Sector Performance - Financials led the large-cap sectors, with notable gains from JP Morgan (up 1.5%), Goldman Sachs, and American Express [4][8] - The technology sector saw mixed results, with Nvidia up nearly 2% and Apple rebounding by 3.76%, while Tesla and other mega-cap tech stocks faced declines [5][6] - Defensive sectors like staples, energy, and materials experienced losses of over 1% [4] Investment Sentiment - Investor sentiment is characterized as cautious, with a significant sector rotation observed from software to hardware and safer areas like materials and energy [10][11] - Small and mid-cap stocks are expected to show greater earnings growth compared to large caps, driven by AI infrastructure and other growth areas [18] BHP Financial Results - BHP reported a 22% increase in first-half profit, with copper now accounting for over 50% of its core earnings, indicating a strategic pivot towards copper production [33][34] - The company plans to increase copper production guidance for this year and next, capitalizing on strong copper prices [36] - BHP's operational performance remains robust, with record production and shipment in iron ore alongside copper growth [36][45] Copper Market Dynamics - The demand for copper is expected to grow significantly, driven by energy transition and digitization, with projections of a 70% increase over the next 25 years [38] - Supply challenges are anticipated due to lower grades and the complexity of new projects, enhancing the demand-supply dynamics for copper [39] Gold and Byproducts - BHP's copper deposits also yield significant byproducts, including gold, which contributed around $2 billion to earnings in the last half [41] - The company is actively seeking to unlock additional value from its portfolio, including a recent $4.3 billion silver stream agreement [42] Iron Ore Negotiations - BHP is engaged in tough negotiations with China's state-owned iron ore buyer but has managed to maintain strong production and price realization [45]

格隆汇2月18日｜13F报告显示，伯克希尔哈撒韦四季度建仓纽约时报。增持Chubb、雪佛龙、达美乐披 萨、Lamar。减持亚马逊、美国银行、DaVita、Pool Corp.、Aon Plc.。重仓苹果、美国运通、美国银 行、可口可乐、雪佛龙。 ...

Amazon has proposed a second big-box store in the Chicago area, Mass Market Retailers (MMR) reported Tuesday (Feb. 17), citing a paywalled article in the Chicago Tribune.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins requi ...

Group 1 - Berkshire Hathaway acquired approximately 5.1 million shares of The New York Times Company, valued at about $352 million at the end of December 2025 [1] - The company reduced its stakes in Apple and Bank of America by about 4% and 9% respectively, and sold 77% of its Amazon stake, decreasing its value from $2.2 billion to $525 million [2] - Berkshire added to its holdings in Chubb and Chevron while selling down Aon, and its Alphabet stake increased in value from around $4.3 billion to $5.6 billion due to a surge in Google's parent company shares [3] Group 2 - Warren Buffett, who transformed Berkshire from a failing textile mill into a $1 trillion conglomerate, stepped down as CEO, with Greg Abel taking over [5][6] - Under Buffett's leadership, the company has been net sellers of stocks for 12 consecutive quarters and has not repurchased shares for five quarters, resulting in a cash reserve exceeding $350 billion [7]

Group 1 - The robot industry is at a critical turning point for mass production and commercialization, with companies like Yushu Technology and Magic Atom investing heavily in marketing during the 2026 Spring Festival Gala [2] - The electric grid investment in China is expected to reach approximately 4 trillion yuan during the "14th Five-Year Plan" period, with a 40% increase compared to the previous plan, focusing on new power system construction and high-voltage transmission [3] - Major technology stocks have seen a market value decline of over $1.3 trillion since January 2026, leading investors to focus more on short-term financial transparency [3] Group 2 - The AI competition between Alibaba and ByteDance has intensified, with Alibaba launching Qwen3.5-Plus and ByteDance introducing Seedance 2.0, marking a new phase in China's AI landscape [3] - The gold and silver prices experienced significant fluctuations due to various market factors, including reduced expectations for Federal Reserve interest rate cuts [4] - The film market during the Spring Festival saw record-breaking performance, with total box office exceeding 1 billion yuan, led by "Fast and Furious 3" [5]

Group 1 - Pershing Square Capital took a new stake of 2,673,569 shares in Meta Platforms in the fourth quarter, marking it as the fifth largest position in the fund [1][3] - The fund exited its position in Chipotle Mexican Grill during the same quarter [1] - Ackman increased the fund's stake in Amazon, which is now the third largest position, while decreasing exposure to Alphabet shares for the second consecutive quarter [2][3] Group 2 - The investment presentation emphasized that Meta's current share price does not reflect its long-term upside potential from AI, suggesting a deeply discounted valuation [4] - Meta is recognized as a leader in the digital advertising space and a significant beneficiary of AI integration, supported by its 3.5 billion daily active users and a growing user base [5] - The experienced leadership team and favorable stock multiples were highlighted as additional reasons for a bullish outlook on Meta [5]

Core Viewpoint - Tiger Global Management has significantly reduced its holdings in several major U.S. tech stocks during the fourth quarter of 2025, indicating a trend among large institutional investors to decrease exposure to technology giants [1][2]. Group 1: Tiger Global Management's Holdings - Tiger Global reduced its stake in TSMC by 18.6%, ending the quarter with 3.7 million shares, marking the largest reduction among its holdings [1]. - The firm cut its Microsoft holdings by 16.4% to 5.5 million shares, and its Amazon stake decreased by 9.3% to 10 million shares [1]. - Nvidia holdings were down by 6% to 1.1 million shares, while Meta Platforms' Class A shares saw a slight reduction of 2.4% to 2.8 million shares [1]. Group 2: Other Institutional Investors' Actions - UBS also reduced its positions in several tech stocks during the same quarter, including an 11.47% cut in Nvidia and a 10.57% reduction in Apple [1]. - Goldman Sachs similarly decreased its holdings in Microsoft, Tesla, Broadcom, and Meta [1]. - SoftBank completely divested its holdings in Nvidia during the fourth quarter of 2025, while Berkshire Hathaway reduced its Apple stake by 4.3% to approximately 228 million shares [1]. Group 3: Reporting Context - The 13-F filings reflect the holdings of institutional investors as of December 31, 2025, and must be submitted within 45 days after the end of each fiscal quarter, not accounting for any changes in the first quarter of 2026 [2]. - Tiger Global, founded in 2001 by Chase Coleman, is known for its significant investments in the technology and internet sectors, making its portfolio adjustments closely watched by the industry [2].