巴菲特“收山之作”：Q4再抛苹果美银，猛砍亚马逊

Core Viewpoint - Berkshire Hathaway continues to adjust its technology holdings in the last quarter before Warren Buffett steps down as CEO, significantly reducing its stakes in major tech companies while initiating a position in traditional media with The New York Times [1][3]. Group 1: Adjustments in Holdings - In Q4, Berkshire Hathaway reduced its Amazon holdings by over 77%, with the stake dropping from 0.82% to 0.19% of the portfolio, amounting to approximately 2.3 million shares [4][5]. - The company also sold approximately 10.29 million shares of Apple, reducing its stake by 4.3%, with the market value decreasing by about $2.8 billion, representing a decline from 22.69% to 22.60% of the portfolio [4][5]. - Berkshire further decreased its stake in Bank of America by nearly 50% over the past year and sold about 50.8 million shares in Q4, bringing its ownership down to 6.89% [5]. Group 2: New Investments - The New York Times was the only new position for Berkshire in Q4, with the company acquiring over 5.06 million shares valued at approximately $352 million, representing about 3.1% of the company [1][6]. - The stock price of The New York Times rose over 10% after the announcement, reflecting strong market interest [1][7]. Group 3: Increased Holdings - Berkshire increased its stake in Chevron by over 8.09 million shares, raising its ownership to 7.24%, with a market value increase of approximately $1.23 billion [9]. - The company also raised its holdings in Chubb by nearly 2.92 million shares, increasing its stake to 3.90% of the portfolio [9]. Group 4: Portfolio Overview - By the end of Q4, Berkshire's top ten holdings remained largely unchanged, with Apple, American Express, and Bank of America as the top three [10][12]. - The only adjustments in the top ten were in the rankings of Moody's and Occidental Petroleum, which swapped positions [10][12].