Hua Er Jie Jian Wen·2025-11-14 23:40Core Insights - Berkshire Hathaway, led by Warren Buffett, has made significant adjustments to its holdings in major U.S. tech companies as it approaches the end of the year [1][2] Holdings Summary - In Q3, Berkshire reduced its stake in Apple by approximately 41.79 million shares, a decrease of over 14.9% from the end of Q2, resulting in a market value decline of about $10.6 billion [3][5] - This marks the second consecutive quarter of selling Apple shares, with the Q3 reduction being more than double the Q2 reduction of 20 million shares [3][4] - Despite the reduction, Apple's stock price increased by approximately 24% in Q3, leading to a slight increase in its proportion of Berkshire's total holdings from 22.31% to 22.69% [4][5] Other Significant Changes - Berkshire also reduced its stake in Bank of America by about 37.2 million shares, a 6.15% decrease, with a market value reduction of $1.92 billion [6] - The total stake in Bank of America has decreased by nearly 45% over the past year, from 1.03 billion shares to 568 million shares [6] New Investments - Berkshire initiated a new position in Alphabet, acquiring approximately 17.85 million shares valued at about $4.34 billion, representing 1.62% of its total holdings [7][9] - This investment in Alphabet is notable given Buffett's traditional cautious approach to high-growth tech stocks [2][8] Portfolio Composition - By the end of Q3, Berkshire's top ten holdings remained largely unchanged, with Alphabet being the only new addition, replacing DaVita [9][11] - The only increase in holdings among the top ten was in Chubb, where Berkshire added about 4.3 million shares, increasing its market value by $1.21 billion [10]