根据美国商务部的数据，2025年第三季度美国经济环比年化增长率为4.3%，增速较前一季度有所加 快。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：观察君 沃伦·巴菲特执掌的伯克希尔·哈撒韦公司在2025年第三季度披露了其股票持仓变动。根据提交给美国证 券交易委员会的13F文件，该公司在当季对部分股票进行了减持操作，其中包括钢铁制造商纽柯钢铁公 司。 文件显示，伯克希尔在第三季度减持了纽柯钢铁约21万股，减持比例约为其在该公司持仓的3%。此次 减持涉及的金额约为2900万美元。值得注意的是，伯克希尔在2025年的第一季度和第二季度才刚刚建立 对纽柯钢铁的持仓。 纽柯钢铁是一家总部位于北美的钢铁产品制造商。伯克希尔此次减持发生在公司披露其投资组合变动的 常规季度报告之中。同期，伯克希尔的投资组合还出现了其他调整，例如新建仓了谷歌母公司Alphabet 的股票，并继续减持了其长期重仓的苹果公司股票。 ...

Core Insights - Berkshire Hathaway, led by Warren Buffett, significantly reduced its stake in Apple Inc. during the third quarter, as reported in the 13F filing to the SEC [1][3] Group 1: Berkshire Hathaway's Holdings - As of September 30, Berkshire's total U.S. stock market value reached $267 billion, reflecting a 3.4% increase from the previous quarter, involving 41 stocks [3] - Apple remains the largest holding for Berkshire, with a position valued at approximately $60.7 billion, despite a reduction in shares from 280 million to 238.2 million, equating to a decrease of about 41.79 million shares (a 14.9% decline) [3] - The reduction in Apple's holdings resulted in a decrease of around $10.6 billion in market value, marking the second consecutive quarter of selling Apple shares, with the scale of sales doubling compared to the previous quarter [3] Group 2: New Investments - Berkshire initiated a new position in Alphabet Inc. (GOOGL) with 17.85 million shares, valued at approximately $4.3 billion, placing it among the top ten holdings [3] - This investment in Alphabet contrasts with Buffett's historical caution towards high-valuation tech stocks, prompting widespread market interpretation [3] Group 3: Leadership Transition - The filing is particularly noteworthy as it coincides with Buffett's impending retirement as CEO at the end of the year, after 60 years of leadership, passing daily management to long-time deputy Greg Abel [3]

Core Insights - Berkshire Hathaway, led by Warren Buffett, has reduced its stake in Apple while initiating a position in Alphabet, as revealed in the 13F filing with the SEC [1] Group 1: Apple - In Q3, Berkshire Hathaway sold approximately 41.79 million shares of Apple, representing a reduction of over 14.9% compared to the end of Q2 [1] - The market value of Berkshire's Apple holdings decreased by about $10.6 billion [1] - Despite the sell-off, Berkshire still holds over 238 million shares of Apple, making it the largest position in their portfolio [1] Group 2: Alphabet - Berkshire Hathaway initiated a new position in Alphabet, acquiring approximately 17.85 million shares [1] - This marks the first time Berkshire has built a position in Google's parent company [1] - The market value of the Alphabet shares held by Berkshire is approximately $4.34 billion, accounting for 1.62% of their total holdings [1]

Core Viewpoint - Berkshire Hathaway, led by Warren Buffett, continues to reduce its holdings in U.S. stocks, marking the 11th consecutive quarter of net selling, with a total U.S. stock holding of $257.52 billion as of the end of Q2 2023 [4][5]. Group 1: Holdings Overview - As of the end of Q2 2023, Berkshire's top ten U.S. stock holdings include Apple, American Express, Bank of America, Coca-Cola, Chevron, Moody's, Occidental Petroleum, Kraft Heinz, Aon, and DaVita, collectively accounting for over 87% of its portfolio [4]. - In Q2, Berkshire reduced its stake in Apple by 20 million shares (6.67%) and in Bank of America by 26.3 million shares (4.17%), while increasing its stake in Chevron by 345,000 shares (2.91%) [5]. Group 2: New Investments and Cash Position - Berkshire initiated a position in UnitedHealth Group with 5.04 million shares, valued at $1.57 billion, following a significant drop in the company's stock price due to a tragic event involving its CEO [5]. - Cash and cash equivalents at Berkshire decreased slightly from $347 billion at the end of Q1 to $344.1 billion at the end of Q2, marking the first decline in three years, as Buffett has struggled to find suitable investment opportunities [5]. Group 3: Leadership Transition - Warren Buffett announced plans to retire by the end of the year, surprising shareholders, and indicated that he would recommend Greg Abel, the vice chairman of non-insurance operations, as his successor [5].

Group 1 - Berkshire Hathaway sold 20 million shares of Apple in Q2, reducing its holdings to 280 million shares valued at $57.4 billion, marking the first sale since Q3 2024 [1] - Apple remains the largest holding in Berkshire's portfolio, accounting for 22.31% of total holdings, despite a significant drop in its stock price, which has fallen over 30% since the end of 2024 [2] - Buffett has been selling Apple shares to lock in substantial profits and bolster a cash reserve exceeding $340 billion [7] Group 2 - Berkshire initiated new positions in several companies, including Anixter, Lamar Advertising, Horton Homes, UnitedHealth, Nucor Steel, and Lennar [10] - The company increased its stakes in Chevron, Pool Corporation, and Constellation Brands, while reducing its position in Bank of America and completely exiting T-Mobile US [10] - Following the disclosure of the 13F filing, shares of UnitedHealth rose over 10% in after-hours trading, with other newly acquired stocks also experiencing gains [11]

Group 1 - Berkshire Hathaway, led by Warren Buffett, released its Q2 13F report, revealing significant changes in its investment portfolio [2] - The report indicates that Berkshire reduced its holdings in Apple, Bank of America, DaVita, and Charter Communications while initiating positions in UnitedHealth, Nucor Steel, Lennar A shares, D.R. Horton, and Lamar Advertising [3] - Berkshire sold 20 million shares of Apple, reducing its stake to 280 million shares, while also decreasing its investment in Bank of America [3] Group 2 - Berkshire initiated a new position in UnitedHealth Group, purchasing 5.04 million shares valued at approximately $1.57 billion, marking its return to the health insurance sector after a 14-year absence [3] - Following the news, UnitedHealth's stock price surged over 10% in after-hours trading, despite the company facing a 40% decline in stock price during Q2 and multiple crises [4] - Berkshire's total stock sales exceeded purchases by approximately $3 billion during Q2, marking the 11th consecutive quarter of net selling in U.S. equities, with cash and equivalents reaching $344.1 billion by the end of June [4][5] Group 3 - Berkshire's operating profit for Q2 declined by 4% year-over-year to $11.16 billion, attributed to negative impacts from U.S. government trade policies [5] - The company has experienced a decline in profits for two consecutive quarters, falling short of market expectations, with ongoing uncertainties regarding trade policies affecting its business and equity investments [5]

Group 1 - Berkshire Hathaway's Q2 13F report reveals a reduction in holdings of Apple, Bank of America, DaVita, and Charter Communications, while initiating positions in UnitedHealth, Nucor Steel, Lennar A shares, D.R. Horton, and Lamar Advertising [1] - The company sold 20 million shares of Apple, reducing its stake to 280 million shares, although Apple remains the largest single stock in Berkshire's portfolio [1] - Berkshire initiated a new position in UnitedHealth Group with 5.04 million shares, valued at approximately $1.57 billion as of June 30, marking its return to the health insurance sector after a 14-year absence [1] Group 2 - UnitedHealth's stock price surged over 10% in after-hours trading following the news, despite a 40% decline during Q2, making it one of the worst performers in the S&P 500 [2] - The company is facing multiple crises, including the suspension of annual earnings guidance, a CEO change, and a reported criminal investigation into insurance fraud [2] - Berkshire sold approximately $3 billion more in stocks than it bought during the April to June period, marking the 11th consecutive quarter of net stock sales [4] Group 3 - As of June 30, Berkshire held cash and cash equivalents totaling $344.1 billion [4] - The company's operating profit for Q2 declined by 4% year-over-year to $11.16 billion, with performance falling short of market expectations [4] - The decline in profit is attributed to negative impacts from U.S. government trade policies, which have created uncertainty affecting most of the company's businesses and equity investments [4]

Group 1 - Berkshire Hathaway reduced its holdings in Apple by 20 million shares and in Bank of America by 26.3 million shares during Q2 [2][4] - The company established new positions in six stocks, including UnitedHealth with over 5 million shares and Nucor Steel with over 6.6 million shares [2][3] - Berkshire increased its stake in Chevron by over 3.45 million shares [2] Group 2 - The market value of Berkshire's holdings in UnitedHealth reached approximately $1.57 billion, leading to a post-announcement stock price increase of over 10% [4][6] - As of the end of Q2, Berkshire's disclosed long positions in U.S. stocks amounted to $257.5 billion [3] - UnitedHealth's stock has experienced a significant decline of 45% year-to-date, amid ongoing investigations into its billing practices by the U.S. government [6]

Group 1 - The market is focused on the upcoming 13F filing from Berkshire Hathaway, which will reveal Warren Buffett's latest holdings as of June 30 [1] - The filing is expected to clarify two key questions: whether Buffett has continued to reduce his stake in Apple and the identity of a mysterious investment totaling nearly $5 billion [1][2] - Speculation about the mysterious investment suggests it may be directed towards a large industrial company, as the "Commercial, Industrial, and Other" category in Berkshire's 10-Q report saw significant increases in investment costs [2] Group 2 - Berkshire Hathaway's reduction in its stake in Bank of America is almost certain, with holdings decreasing from 1.03 billion shares to 631 million shares, a drop of nearly 40% [3] - The largest uncertainty remains regarding Apple, which constitutes about 25% of Berkshire's stock portfolio, with a market value of $66.6 billion as of March 31 [3] - Buffett has indicated he may make "rational adjustments" to his holdings when valuations are appropriate, leading to speculation about potential reductions in the second quarter [3]

Core Viewpoint - The Bank of Japan has reduced its stock holdings in the banking sector to zero, indicating a significant shift in its investment strategy [1] Group 1 - The decision to sell off all bank stocks reflects a change in the Bank of Japan's approach to managing its asset portfolio [1] - This move may impact the banking sector's stock prices and investor sentiment in Japan [1] - The reduction to zero holdings suggests a potential reassessment of the risks associated with the banking industry [1]