巴菲特，收官持仓曝光！

Core Viewpoint - Warren Buffett's final operational decisions before retirement have garnered significant attention from global investors, particularly regarding Berkshire Hathaway's portfolio adjustments in Q4 2025 [1][2]. Group 1: Portfolio Adjustments - In Q4 2025, Berkshire Hathaway significantly reduced its holdings in Amazon, with the stock's portfolio share dropping from 0.82% in Q3 to 0.19%, a decrease of 0.63 percentage points, and the number of shares reduced to approximately 2.3 million [4]. - Berkshire also continued to sell Apple shares, reducing its holdings by over 10.29 million shares, a 4.3% decrease from Q3, with the stock's portfolio share slightly declining from 22.69% to 22.60% [4]. - Additionally, Berkshire reduced its stake in Bank of America by approximately 50.8 million shares, an 8.9% decrease from Q3 [4]. Group 2: New Investments - The only new position taken by Berkshire in Q4 2025 was in The New York Times, acquiring over 5.06 million shares valued at approximately $352 million [6]. - Following the disclosure of this investment, The New York Times' stock price surged over 10% in after-hours trading, although the increase later moderated [7]. Group 3: Increased Holdings - Berkshire Hathaway increased its holdings in Chevron by over 8.09 million shares, raising its portfolio share from Q3 to 7.24% [7]. - The company also increased its stake in Chubb Limited (formerly known as ACE Limited) by approximately 2.92 million shares, with its portfolio share rising from 3.31% in Q3 to 3.90% [7]. - Additionally, Berkshire added 368,000 shares of Domino's Pizza to its portfolio [8].