Core Insights - Berkshire Hathaway, led by Warren Buffett, has reportedly reduced its stake in Apple, with a significant decrease in the cost basis of its consumer goods stock holdings by approximately $1.2 billion compared to the previous quarter, indicating a potential further reduction in Apple shares by Q3 2025 [1] Group 1: Apple Stock Holdings - Berkshire Hathaway has reduced its Apple stock holdings by nearly 70% over the past year, resulting in a potential loss of $50 billion in unrealized gains [3] - The company initially invested about $37.5 billion in Apple between 2016 and 2018, which at its peak represented nearly 50% of Berkshire's portfolio, generating over $150 billion in net gains [4] - As of June 30, 2025, Berkshire held 280 million shares of Apple, valued at $57 billion, down from 906 million shares at the end of 2023 [4] Group 2: Financial Performance - In Q3 2025, Berkshire reported total revenue of $94.972 billion, a year-over-year increase of 2.13%, and a net profit of $30.796 billion, up 17.31% [8] - The operating profit for Q3 reached $13.485 billion, reflecting a year-over-year growth of 33.65%, indicating strong profitability in Berkshire's traditional businesses [8] - Berkshire's cash reserves have reached a record high of $381.67 billion, highlighting a cautious investment approach in the current market environment [8] Group 3: Leadership Transition - The recent financial report is expected to be the last one released by Buffett before he steps down as CEO, with plans to hand over the position to Greg Abel by the end of the year [9] - Buffett's retirement has led to increased pressure on Berkshire's stock price, with a recent downgrade from KBW [9] - Abel will take over the writing of Berkshire's annual shareholder letter and will lead the annual meeting in Omaha starting next year [11]