The latest 13F from Berkshire Hathaway shows a characteristically concentrated — but unusually active — quarter for Warren Buffett. While Berkshire trimmed several long-held positions earlier in 2025, this filing reveals where capital actually flowed in. Much of the activity reflects classic Buffett behavior: doubling down on durable franchises, opportunistic value investing, and selectively adding to high-conviction compounders.Below is a breakdown of the most important net purchases visible in the filing. ...

Core Insights - Billionaire Stanley Druckenmiller has made significant investment moves, selling shares in Nvidia, Palantir, and Eli Lilly while acquiring positions in Alphabet and Meta, which are considered undervalued within the "Magnificent Seven" tech stocks [2][3][9]. Group 1: Recent Sales - Druckenmiller sold all shares of Nvidia, Palantir, and Eli Lilly, with Nvidia and Palantir experiencing substantial growth over the past three years, with increases of 1,000% and 2,000% respectively, while Eli Lilly grew over 180% [3][6]. - The decision to sell Nvidia was influenced by rising valuations, and similar valuation concerns may have affected the sales of Palantir and Eli Lilly [7]. Group 2: New Acquisitions - Druckenmiller opened positions in Alphabet, purchasing 102,200 shares, and Meta, acquiring 76,100 shares, both of which are seen as benefiting from the AI boom [10][12]. - Alphabet's stock trades at 27 times forward earnings estimates, while Meta trades at 22 times, indicating a potential value opportunity for investors [11]. - Both companies are leveraging AI to enhance advertising effectiveness and drive revenue growth, with Google Cloud reporting a 34% revenue gain in the recent quarter [13].

Core Viewpoint - Quantum Computing stock has experienced significant volatility, currently down 38% year-to-date, influenced by market sentiment regarding interest rate cuts and broader economic conditions [1][2][4]. Market Performance - The stock price declined by 3.8% over the last week, while the S&P 500 and Nasdaq Composite fell by 2% and 2.7%, respectively [1][3]. - Despite initial declines, the stock saw a rebound on Friday, driven by increased investor optimism about potential Federal Reserve interest rate cuts [2][4]. Valuation and Investor Sentiment - The company's valuation fluctuated as investors reacted to Nvidia's Q3 report, initially buying into AI stocks before shifting to a bearish outlook due to concerns over an AI valuation bubble and interest rate policies [4]. - Recent polling indicates a 69% likelihood of a Federal Reserve rate cut in December, up from 44% the previous week, which is seen as a key catalyst for the stock's near-term performance [6]. Key Financial Metrics - Current market capitalization stands at $2 billion, with a trading range of $9.50 to $10.52 for the day and a 52-week range of $4.37 to $27.15 [5][6]. - The stock's gross margin is reported at -77783.88%, indicating significant financial challenges [6].

Core Viewpoint - Meta Platforms Inc. has halted internal research that indicated users who stopped using Facebook experienced reduced levels of depression and anxiety, amidst ongoing legal challenges regarding the mental health impacts of its platforms [1][5][6]. Group 1: Research and Legal Context - The internal study, known as Project Mercury, was initiated in late 2019 to assess the effects of Meta's apps on polarization, news consumption, well-being, and social interactions [2]. - The legal complaint against Meta is part of a broader multidistrict litigation involving various plaintiffs, including school districts and state attorneys general, who allege that social media platforms knowingly caused mental health issues among children and young adults [3]. Group 2: Allegations and Company Response - The lawsuit claims that Meta was aware of the negative mental health effects of its platforms but chose to suppress the findings of its research, which showed that users who deactivated their accounts reported lower levels of depression and anxiety [5][6]. - A Meta spokesperson refuted the allegations, stating that the company has made significant changes to protect teens and has been responsive to parental concerns over the years [4]. Group 3: Study Findings and Implications - The 2019 study involved a random sample of users who stopped using Facebook and Instagram for a month, with initial results indicating improved mental health outcomes for those who ceased usage [5]. - Meta's spokesperson characterized the study as flawed, arguing that it only confirmed existing public research and did not establish a direct causal relationship between platform usage and adverse mental health effects [7].

Core Insights - Harbour BioMed has advanced its global strategic collaboration with AstraZeneca to develop next-generation biotherapeutics, including antibody-drug conjugates and T cell engagers, leveraging both companies' expertise [1][3] Collaboration Details - AstraZeneca will nominate discovery programs to Harbour BioMed annually over the next four years, with the option to license these programs for further development. Harbour BioMed will receive option fees, milestone payments, and tiered royalties on future net sales [2] Company Background - Harbour BioMed is a global biopharmaceutical company focused on discovering and developing novel antibody therapeutics in immunology and oncology, building a robust pipeline through internal R&D, strategic collaborations, and selective acquisitions [4] Technology Platform - The company utilizes its proprietary Harbour Mice technology to generate fully human monoclonal antibodies in various formats, enabling the development of innovative biologics for treating significant medical needs [5]

Core Viewpoint - Innovent Biologics has been successfully included as a constituent stock of the Hang Seng Index (HSI), marking a significant milestone in its development and recognition in the international capital market [1][4][5]. Company Overview - Innovent Biologics is a leading biopharmaceutical company founded in 2011, focusing on developing high-quality medicines for major diseases such as cancer, cardiovascular and metabolic disorders, autoimmune diseases, and ophthalmology [3][6]. - The company has launched 16 products and has a diversified drug pipeline that includes monoclonal antibodies, bispecific antibodies, antibody-drug conjugates (ADCs), and small-molecule drugs [3][6]. Market Recognition - The inclusion in the HSI and other indices like the Hang Seng China Enterprises Index (HSCEI) and the Hang Seng ESG Enhanced Index highlights the strong recognition of Innovent's value as an innovative biopharmaceutical company [1][4]. - This milestone reflects the Hong Kong stock market's preference for high-quality Chinese innovative biopharmaceutical enterprises [4]. Strategic Implications - Innovent's inclusion in the HSI is expected to broaden its investor base, enhance international visibility, and provide solid capital support for ongoing investments in innovative R&D and global business expansion [5]. - The company aims to continue its mission of developing affordable, high-quality biopharmaceuticals for patients worldwide, thereby creating long-term value for investors [5][6].

Core Insights - The World Hydrogen Expo 2025 (WHE 2025) is set to be the largest hydrogen industry exhibition globally, taking place from December 4 to December 7, 2025, at KINTEX in Seoul, South Korea [1][7]. Group 1: Event Overview - WHE 2025 integrates South Korea's leading hydrogen exhibition, H2 MEET, and the largest international hydrogen conference, aiming to establish South Korea as a global hydrogen hub [2]. - The event will feature over 320 companies from 24 countries and is expected to attract more than 30,000 visitors, showcasing advancements in hydrogen production, storage, transport, and utilization [3]. Group 2: Conference Details - The WHE 2025 Conference will occur on December 4 and 5, featuring sessions with high-level government officials discussing national strategies for clean hydrogen [4]. - The conference will include a Hydrogen Deep Dive session with presentations from industry experts on the hydrogen supply chain and technology commercialization [5]. Group 3: Side Events and Collaborations - Concurrently, the Global Partnership Meeting for the Hydrogen Industry will facilitate business matching between South Korean companies and global buyers [6]. - The event aligns with the Hydrogen Council CEO Summit, enhancing its international significance and fostering cooperation among global hydrogen companies [8].

Core Viewpoint - The near-term trajectory of the Indian rupee is heavily influenced by the anticipated US-India trade deal, with expectations of appreciation if a positive agreement is reached, while delays could lead to depreciation towards 90-90.5 per dollar [1][11]. Currency Movement Expectations - Economists predict the rupee could appreciate by 100-150 paise to 88/$1 if a favorable trade deal is finalized soon, but further delays may push the currency towards 90-90.5 [1][10]. - This week is expected to be volatile, with the rupee likely trading in the 89-90 per dollar range, reflecting market reactions after breaching the psychological 89 level [1][11]. Volatility and Market Reactions - The recent narrow trading range has been broken, leading to increased volatility, with potential movements between 88.50 and 90.50 anticipated [2][11]. - A sharp depreciation is expected to elevate volatility in November, which had been subdued earlier in the month [4][11]. Reserve Bank of India (RBI) Actions - Experts believe that even with a favorable trade deal, the rupee will not experience deep appreciation, as the RBI is expected to absorb dollars and build reserves while rolling over its short forward book [8][11]. - India's forex reserves were reported at $692 billion as of November 14, down from $703 billion on September 12, with the RBI's short positions in the forward book increasing by $6 billion to $59.5 billion in September [8][11].

Market Overview - US stock futures rose as investors anticipate a market turnaround in the Thanksgiving trading week, following a recent pullback in AI-driven stocks [1] - Major indexes have experienced notable losses in November, with the S&P 500 down 3.5% month-to-date and the Nasdaq Composite down 6.1% [2][3] Economic Indicators - The Federal Reserve Bank of New York president suggested a potential rate cut in December, contributing to Friday's market rebound [2] - Upcoming economic data releases include producer prices and retail sales for September, which are expected to provide insights into the economic landscape [4] Earnings Reports - The earnings season continues with key releases from companies such as Alibaba Holdings, Dell Technologies, and retailers like Kohl's and Best Buy during the holiday-shortened week [5]

Core Insights - The article emphasizes the potential of generating significant wealth through consistent, small investments in the stock market, particularly through the S&P 500 index funds [2][10][11] Investment Strategy - Investing small amounts, such as $50 per week, is now feasible due to the availability of commission-free trading options, making it easier for investors to participate without incurring high fees [2][3] - The S&P 500 index is recommended as a safe investment option, reflecting the overall health of the stock market and providing a diversified portfolio for novice investors [4][10] Cost Efficiency - The SPDR S&P 500 ETF (SPY) is highlighted as a low-cost investment vehicle with an expense ratio of 0.095%, resulting in minimal fees on investments, which is advantageous for long-term growth [5][8] Historical Performance - Historically, the S&P 500 has averaged an annual return of around 10%, suggesting that investments could double approximately every seven years [6][9] Long-Term Growth Potential - A consistent investment of $50 per week could lead to substantial growth over time, with projections indicating a balance of $1,390,779 after 40 years at a 10% annual return [9] - The article stresses the importance of starting early, as the compounding effect significantly increases potential gains as the investment period extends [9][11]