Group 1 - Nvidia shares experienced a decline of over 2%, trading around $195 in premarket, following a previous increase of 5.7% [1] - SoftBank reported the sale of 32.1 million Nvidia shares in October, amounting to $5.83 billion [1] - SoftBank's CFO indicated that the company plans to make a significant investment exceeding $30 billion in OpenAI, necessitating the divestment of existing portfolio assets [2] Group 2 - SoftBank also disclosed the sale of 40.2 million T-Mobile shares, indicating a broader strategy of portfolio reallocation [1] - The divestment of Nvidia shares is part of a financing strategy to support the large investment in OpenAI [2]

Company Overview - Oshkosh Corporation is a leading manufacturer of specialty vehicles and equipment, serving diverse end markets including defense, construction, emergency response, and commercial services [5] - The company generates revenue through four key segments: Access Equipment, Defense, Fire & Emergency, and Commercial, supplemented by parts, services, and financing solutions [9] - As of November 6, 2025, Oshkosh's revenue (TTM) is $10.33 billion, with a net income of $666.30 million and a dividend yield of 1.65% [3] Recent Developments - SG Capital Management LLC reported a complete exit from its stake in Oshkosh Corporation, selling all 557,006 shares held in the prior quarter as part of a broader portfolio downsizing [1] - The exit from Oshkosh was significant for SG Capital, as it was the firm's second-largest holding at the end of June, and the firm completely exited 50 positions during the third quarter [6] - Shares of Oshkosh have gained 10.69% over the past year, underperforming the S&P 500 index, which rose by 12.7% during the same period [7][8] Financial Outlook - In August 2025, Oshkosh raised its outlook for adjusted earnings to $11.00 per share, but by late October, management revised the outlook to a range between $10.50 and $11.00 per share due to a shifting economic outlook [10]

Core Viewpoint - The article emphasizes that investors should consider adjusting their portfolios in light of a potential further decline in the US dollar, with a recommendation for higher allocations to non-US investment-grade bonds and emerging market local currency bonds [1] Group 1: Factors Influencing Dollar Weakness - The US dollar has significantly depreciated against other major currencies since early 2025, and several factors suggest this trend may continue [1] - Divergence in monetary policy is evident, as the Federal Reserve has recently begun cutting interest rates while other major central banks have halted or are nearing the end of their rate-cutting cycles, which narrows the interest rate gap and typically reduces demand for the dollar [1] - The independence of the Federal Reserve is being questioned, particularly due to political pressure from President Trump to lower interest rates despite high inflation, which could undermine confidence in the dollar [1] - The US government's substantial fiscal deficit continues to exceed tax revenues, raising concerns about a potential sovereign debt crisis that could lead to a significant weakening of the dollar [1] - There is a declining demand from foreign investors for US assets, particularly US Treasury securities, influenced by the Trump administration's trade and foreign policy stance, which has diminished the appeal of holding US dollar-denominated assets [1]

Core Insights - The absence of a jobs report and limited economic data creates uncertainty in the market, making it challenging for investors to gauge the economic landscape [1] Group 1 - The lack of recent economic indicators complicates the decision-making process for portfolio management [1] - Investors are encouraged to make informed moves despite the unclear economic signals [1]

Core Viewpoint - The company, 港通控股, has announced the sale of its investment in Apollo Hybrid Value Overseas Partners II, L.P. to Portfolio Advisors for an initial purchase price of approximately $18.12 million, which is about HKD 141 million, with potential adjustments to the price [1] Group 1: Financial Strategy - The sale aligns with the company's financial management objectives, aiming to provide stable risk-adjusted returns for shareholders [1] - The decision to sell was based on an evaluation of the overall risk, potential returns, and risk profile of the existing non-listed fund investment portfolio [1] - The cash inflow from the sale is expected to enhance the company's cash position and provide financial flexibility for future investment opportunities [1]

Core Viewpoint - The company, 港通控股, has announced the sale of its investment in Apollo Hybrid Value Overseas Partners II, L.P. for an initial purchase price of approximately USD 18.12 million (around HKD 141 million), which aligns with its financial management objectives and aims to enhance cash flow and financial flexibility for future investment opportunities [1]. Group 1 - The sale agreement was established between MWH, a wholly-owned subsidiary of the company, and Portfolio Advisors [1]. - The decision to sell was based on an evaluation of the overall risk, potential returns, and risk profile of the existing non-listed fund investment portfolio, as well as future investment opportunities [1]. - The cash inflow generated from this sale is expected to provide the company with financial flexibility and resources to explore other investment opportunities that may arise in the future [1].

Group 1 - Temasek will restructure its investment portfolio of SGD 434 billion (approximately USD 338 billion) starting April 1 next year, aiming to enhance the company's focus [1] - The restructuring will create three new entities: Temasek Global Investments, Temasek Singapore Portfolio Management, and Temasek Collaborative Investment Solutions, each managing different aspects of Temasek's investments [1] - Chia Song Hwee will be appointed as co-CEO starting October 1, working alongside CEO Dilhan Pillay to drive the next phase of growth for the company [1] Group 2 - Temasek is preparing for a "new global environment," emphasizing the need to sense changes timely and adjust its organizational structure to support business growth and returns [2] - As of March, 36% of Temasek's portfolio consists of global direct investments, 41% is from the Singapore-based portfolio company, and 23% is from partnerships, funds, and asset management companies [2]

Group 1 - The core viewpoint is that DoubleLine Capital, managed by "bond king" Jeffrey Gundlach, is concerned about the expanding federal budget deficit and increasing debt burden in the U.S. [1] - The company is avoiding the longest-term U.S. Treasury bonds and favoring shorter-term bonds that offer lower interest rate risk while still providing substantial returns [1] - This shift in investment strategy is shared by several investment firms, including PIMCO and TCW Group Inc., and has performed well this year due to increased government spending globally undermining confidence in long-term bonds [1] Group 2 - In May, the U.S. lost its highest credit rating from Moody's, further contributing to the concerns regarding long-term bonds [1]

Core Viewpoint - Berkshire Hathaway's latest 13F filing reveals that Warren Buffett has maintained his position in Apple, holding 300 million shares valued at approximately $66.6 billion, which constitutes 25.76% of the total portfolio [1] Group 1: Berkshire Hathaway's Holdings - In Q1 2025, Buffett sold approximately 48.66 million shares of Bank of America, dropping its ranking to fourth place behind Coca-Cola [2] - Citigroup was completely liquidated, marking the end of a brief holding period that began in mid-2022 [2] - Berkshire has not disclosed one or more holdings in the latest filing, indicating potential new investments, similar to its previous stealth acquisition of Chubb Insurance [2] - Other investment activities included purchases of Sirius XM, Occidental Petroleum, and Verisign, while slightly reducing holdings in DaVita [2] - Significant increases were made in Pool Corp and Constellation Brands, along with additional investments in Domino's Pizza and aerospace manufacturer HEICO [2] Group 2: Buffett's Future Plans - Buffett discussed his decision to step back due to age, stating that he only began to feel old around 90, but he remains in good health [3] - He plans to continue coming to the office daily and will assist when necessary, indicating he is not fully retiring [3] Group 3: Other Investors' Activities - The portfolio managed by Charlie Munger's Daily Journal Corp saw a reduction in holdings of four stocks, including Alibaba, which was cut from 300,000 shares to 195,000 shares [3] - In contrast to Buffett's strategy, investors like Duan Yongping and Li Lu have significantly reduced their Apple holdings, with Duan's portfolio showing a 65% decrease in Apple shares [4]

Group 1 - Michael Burry's hedge fund, Scion Asset Management, has significantly reduced its stock holdings, retaining only Estee Lauder while selling off major positions in Chinese tech stocks like Alibaba and Baidu [1][2] - In Q1 2025, Burry sold 100% of his shares in Alibaba (150,000 shares) and Baidu (125,000 shares), resulting in a 16.42% and 13.61% decrease in his portfolio respectively [1][2] - Burry has initiated a position in put options for Nvidia and other Chinese tech companies, indicating a potential hedge against long positions not reported in the 13F filing [2] Group 2 - Estee Lauder is the only stock that Burry has increased his position in, doubling his holdings to 200,000 shares, valued at $13.2 million, which now represents 6.63% of his portfolio [3][4] - As of the end of Q1 2025, Burry's portfolio is concentrated in defensive consumer goods, primarily through his investment in Estee Lauder [4]