Core Insights - Berkshire Hathaway has significantly reduced its stake in Apple, with a reported decrease of approximately $1.2 billion in the cost basis of its consumer goods stock holdings, primarily due to further sales of Apple shares in Q3 2025 [2] - The decision to sell a substantial portion of Apple shares has resulted in an estimated missed opportunity of around $50 billion in potential gains as Apple's stock price reached a historical high of $264.38 [3] Group 1: Berkshire's Investment in Apple - Berkshire Hathaway's investment in Apple, which began with a total investment of about $37.5 billion from 2016 to 2018, once represented nearly 50% of its portfolio, generating over $150 billion in net gains [2] - By the end of Q2 2025, Berkshire held 280 million shares of Apple, valued at $57 billion, a significant reduction from 906 million shares at the end of 2023, marking a nearly 70% decrease [2] Group 2: Financial Performance - In Q3 2025, Berkshire Hathaway reported total revenue of $94.972 billion, a 2% increase year-over-year, surpassing market expectations of $91.55 billion [3] - The net profit for the same quarter was $30.796 billion, reflecting a 17% year-over-year growth and exceeding market expectations of $12.73 billion [3] - Operating profit, a key metric for Warren Buffett, reached $13.485 billion, up 34% from $10.09 billion in the previous year [3] Group 3: Leadership Transition - Warren Buffett's tenure as CEO of Berkshire Hathaway is nearing its end, with plans for his retirement by the end of the year, transitioning leadership to Greg Abel, the current head of non-insurance operations [4] - Buffett will deliver a Thanksgiving address to shareholders on November 10, after which he will no longer write the annual shareholder letter, a responsibility that will be passed to his successor, Greg Abel [5]