Core Viewpoint - Berkshire Hathaway continues to adjust its technology holdings, reducing stakes in major companies like Apple and Bank of America while initiating a position in traditional media outlet The New York Times during Warren Buffett's final quarter as CEO [2][3]. Group 1: Holdings Adjustments - In Q4 2025, Berkshire sold over 10.29 million shares of Apple, reducing its stake by 4.3% quarter-over-quarter, resulting in a decrease of approximately $2.8 billion in market value, with Apple's portfolio share dropping from 22.69% to 22.60% [2]. - Berkshire's stake in Amazon was significantly reduced by over 77%, with holdings decreasing to approximately 2.3 million shares, and its portfolio share plummeting from 0.82% to 0.19% [3]. - The company also sold nearly 50.8 million shares of Bank of America, a reduction of 8.9%, leading to a portfolio share decline to 6.89% [3]. Group 2: New Investments and Increases - The New York Times was the only new position initiated by Berkshire in Q4 2025, with an acquisition of 5.067 million shares valued at $352 million, representing about 3.1% of the company [4]. - Berkshire increased its stake in Chevron by over 8.09 million shares, a growth of 6.63%, raising its portfolio share to 7.24% and increasing its market value by approximately $1.23 billion [4]. Group 3: Top Holdings - As of Q4 2025, Berkshire's top ten holdings remained consistent with the previous quarter, including Apple, American Express, Bank of America, Coca-Cola, Chevron, Moody's, Occidental Petroleum, Swiss Re, Kraft Heinz, and Alphabet [4].

Core Viewpoint - Berkshire Hathaway disclosed its Q4 2025 U.S. stock holdings report, marking the last quarter under CEO Warren Buffett, showing significant reductions in key positions while also establishing a new position in The New York Times [1] Group 1: Holdings Summary - As of the end of Q4 2025, Berkshire's total holdings value was approximately $274.16 billion, up from $267.33 billion at the end of Q3 2025 [1] - The top five holdings included Apple, American Express, Bank of America, Coca-Cola, and Chevron, with Apple representing 22.6% of the portfolio [2][4] Group 2: Reductions in Holdings - In Q4 2025, Berkshire reduced its Apple shares by approximately 10.3 million, marking a 4.32% decrease, with total Apple shares held at 227.9 million, valued at about $61.96 billion [5] - The company also reduced its Bank of America shares by about 50.8 million, a decrease of 8.94%, leaving it with 517.3 million shares [5] - A significant reduction in Amazon shares was noted, with a decrease of 772.4 thousand shares, representing a 77% reduction [4][5] Group 3: New Investments - Berkshire initiated a new position in The New York Times, acquiring approximately 5.07 million shares valued at about $352 million, marking a re-entry into the media sector after selling its newspaper assets in 2020 [6] - The New York Times reported strong performance in Q4 2025, with total subscription users exceeding 12.78 million and a 10.2% increase in operating profit year-over-year [6]

伯克希尔·哈撒韦公司在"股神"巴菲特卸任CEO前最后一个季度继续调整科技巨头持仓，减持多只重仓股的同时，首次建仓传统媒体纽约时报。 美东时间2月17日周二美股盘后，递交美国证监会（SEC）的13F文件披露，伯克希尔2025年第四季度大幅削减所持亚马逊股份（AMZN）超过77%，并且连 续第三个季度减持苹果（AAPL）。伯克希尔还继续抛售美国银行（BAC），对该行的持股比例降至略低于7%。 本周二公布的是巴菲特执掌伯克希尔60年的最后一份13F持仓报告，巴菲特的继任者Greg Abel已于2026年1月1日正式接任CEO。伯克希尔将于2月28日公布 全年业绩，届时将发布Abel作为CEO的首封致股东信。 持续减持苹果与美银 据13F文件，伯克希尔四季度抛售苹果超过1029万股，持股数环比三季度减少4.3%，季末苹果持仓市值环比减少约28亿美元，持仓在伯克希尔投资组合中的 占比从三季度的22.69%降至22.60%。 以环比减少的市值看，苹果是伯克希尔四季度减持最多的个股，但减持股份还不及前一季。三季度伯克希尔减持苹果约4179万股，持股数环比减少逾 14.9%。 尽管持续减持，到四季度末，苹果仍是伯克希尔的头号 ...

Group 1 - Berkshire Hathaway, led by Warren Buffett, disclosed changes in its stock holdings for Q3 2025, including a reduction in its stake in steel manufacturer Nucor Corporation [1] - The company reduced its holdings in Nucor by approximately 210,000 shares, representing about 3% of its total position, with a monetary value of around $29 million [1] - Notably, Berkshire had only established its position in Nucor in Q1 and Q2 of 2025 [1] Group 2 - During the same reporting period, Berkshire also initiated a new position in Alphabet, the parent company of Google, while continuing to reduce its long-term holdings in Apple [1] - According to the U.S. Department of Commerce, the annualized quarter-over-quarter growth rate of the U.S. economy for Q3 2025 was 4.3%, indicating an acceleration compared to the previous quarter [1]

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]