Zhong Guo Zheng Quan Bao·2025-11-15 00:40Core Viewpoint - Berkshire Hathaway, led by Warren Buffett, has made significant changes in its investment strategy by purchasing shares in Alphabet (Google-A) while continuing to reduce its holdings in Apple, indicating a potential shift in investment focus as Buffett prepares to step down as CEO by the end of the year [2][9][15]. Group 1: Investment Changes - In Q3 2025, Berkshire Hathaway acquired nearly 17.85 million shares of Alphabet (GOOGL), valued at approximately $4.3 billion, marking it as the largest new position for the quarter [7][9]. - The total market value of Berkshire's holdings increased to $267.3 billion by the end of Q3, up from $257.5 billion at the end of Q2 [5]. - Berkshire also increased its stakes in several other companies, including Chubb Limited, Lennar Corp., Domino's Pizza, Sirius XM, and Lamar Advertising [9]. Group 2: Reduction in Holdings - Berkshire Hathaway sold approximately 41.79 million shares of Apple, reducing its stake by about 15%, leaving it with 238.21 million shares at the end of Q3 [12][13]. - The company also reduced its holdings in Bank of America by approximately 37.2 million shares (6% reduction), VeriSign by 4.3 million shares (32% reduction), and Nucor by 210,000 shares (3% reduction) [12][13]. Group 3: Leadership Transition - Warren Buffett confirmed that Greg Abel will take over as CEO at the end of the year, expressing full confidence in Abel's capabilities and management style [15]. - Buffett emphasized that he will no longer write the annual report or speak at shareholder meetings, indicating a significant transition in the company's leadership and communication approach [15].