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. ...

Market Overview - The US stock market finished higher, with the S&P 500 gaining 1.0%, the Dow Jones Industrial Average climbing 493 points (1.1%), and the Nasdaq composite rising 0.9% [1][12] - The S&P 500 is now just 4.2% below its record, despite experiencing significant volatility throughout the week [2] Investor Sentiment - Investors are grappling with sharp swings in stock prices, reminiscent of the sell-off in April, raising concerns about whether prices for high-profile stocks like Nvidia and Bitcoin have become too inflated [2][3] - The uncertainty surrounding the Federal Reserve's interest rate decisions is contributing to market volatility, with some officials advocating against further cuts due to persistent inflation [5] Company Performance - Nvidia's stock experienced significant fluctuations, dropping 4.3% before closing down 1%, despite a strong profit report [8][11] - Retailers like Gap and Ross Stores saw substantial gains, with Gap jumping 8.2% and Ross Stores rising 8.4% after reporting better-than-expected profits [11][12] - Homebuilders also performed well, with D.R. Horton up 6.8%, Lennar rising 5.9%, and PulteGroup gaining 5.2%, driven by hopes of lower mortgage rates [12] Cryptocurrency Market - Bitcoin briefly fell below $81,000 before recovering to around $85,000, down from nearly $125,000 last month [9] Market Dynamics - Despite the volatility, nearly 90% of stocks in the S&P 500 rose, indicating that the overall market strength may be overshadowed by the performance of large tech stocks [10] - The bond market reacted positively to expectations of potential interest rate cuts, with a significant increase in the probability of a December cut from 39% to nearly 72% [13]

Core Insights - Homebuilder stocks experienced significant gains following comments from a Federal Reserve official suggesting a potential rate cut in December [2][8] - The likelihood of a rate cut has increased to approximately 70%, up from 39% the previous day, according to CME Group's FedWatch tool [3] - Major homebuilder stocks such as Builders FirstSource, D.R. Horton, and KB Home saw their shares rise by about 7% on Friday, with other related stocks also benefiting from the news [4][8] Impact on Homebuilders - A potential reduction in the Federal Reserve's benchmark interest rate could lead to lower mortgage rates, making homes more affordable and stimulating demand from homebuyers [5][7] - Despite the positive outlook, many homebuilder stocks remain in negative territory for 2025 due to a sluggish housing market and elevated mortgage rates [6] Market Reactions - The comments from Federal Reserve Bank of New York president John Williams have fueled optimism among traders, leading to a surge in homebuilder stock prices [2][4] - Stocks connected to real estate, including Zillow Group and Rocket Companies, also saw gains as a result of the increased expectations for a rate cut [4]

Market Overview - The U.S. stock market experienced a significant rebound on November 21, 2025, with major indexes closing higher, recovering from earlier losses driven by optimism regarding potential interest rate cuts by the Federal Reserve [1][4] - The Dow Jones Industrial Average (DJI) rose 1.4%, adding 650 points, while the S&P 500 (SPX) gained 1.4%, closing at 6,590 points, and the Nasdaq Composite (IXIC) increased by 1.5% [2] Federal Reserve Influence - New York Federal Reserve President John Williams indicated support for a potential interest rate cut "in the near term," which shifted market expectations significantly, raising the likelihood of a rate cut at the December meeting to 73.1% from 39.1% [4] Corporate Performance - Nvidia (NVDA) reported a 62% year-over-year revenue increase to $57 billion, but its shares fell 3.2% on Thursday and 1.7% on Friday due to concerns over AI valuations [5] - Walmart (WMT) saw its stock decline by approximately 2% on Friday after a strong performance on Thursday, where it had jumped 6.5% following better-than-expected third-quarter results [6] - Retailers like Gap (GPS) and Ross Stores (ROST) had positive performances, with Gap surging 9.5% and Ross jumping 8.5% due to strong earnings [7] Notable Stock Movements - Alphabet (GOOGL) increased by over 3%, while Meta Platforms (META) added 1%. In contrast, Microsoft (MSFT) shares fell approximately 1%, and Oracle (ORCL) slid more than 4% [8] Upcoming Earnings and Economic Data - Several companies, including BJ's Wholesale Club Holdings (BJ) and IES Holdings (IESC), reported earnings after the market closed, with BJ's EPS at $1.16 against a forecast of $1.10 [9][10] - The upcoming week will feature key economic data releases, including the Producer Price Index (PPI) and Retail Sales for September, which were delayed due to a government shutdown [12]

However, other Fed comments today were hawkish. Boston Fed President Susan Collins said that holding interest rates steady would be "appropriate for now" as inflation is likely to stay elevated for some time. Also, Dallas Fed President Lorie Logan said, "With two rate cuts now in place, I'd find it difficult to cut rates again in December unless there is clear evidence that inflation will fall faster than expected or that the labor market will cool more rapidly."Stocks and bonds garnered support today from ...

Core Points - Meritage Homes Corporation has declared a quarterly dividend of $0.43 per share, payable on December 31, 2025, to shareholders of record as of December 17, 2025 [1] - The company has repurchased $128 million of shares in the fourth quarter and $273 million year-to-date, with $536 million remaining under the current authorization program [2] - Meritage plans to increase its share repurchase commitment to $100 million per quarter in 2026, anticipating reduced land acquisition and development spending [3] Company Overview - Meritage Homes is the fifth-largest public homebuilder in the U.S., based on homes closed in 2024, and operates in multiple states including Arizona, California, and Texas [6] - The company has delivered over 200,000 homes in its 40-year history and is recognized for its energy-efficient homebuilding practices [7] - Meritage has received multiple awards from the U.S. Environmental Protection Agency for its commitment to energy efficiency and quality construction [8]

Core Viewpoint - Hovnanian Enterprises, Inc. is set to release its financial results for the fourth quarter and fiscal year ending October 31, 2025, on December 4, 2025, with a conference call scheduled for the same day [1]. Company Overview - Hovnanian Enterprises, Inc. was founded in 1959 and is headquartered in Matawan, New Jersey. It is one of the largest homebuilders in the United States, operating in multiple states including Arizona, California, Florida, and Texas [3]. - The company markets its homes under the trade name K. Hovnanian® Homes and is a significant builder of active lifestyle communities through its subsidiaries [3]. Investor Relations - The fourth quarter earnings conference call will be webcast live on the company's website, and participants are encouraged to access the event at least five minutes prior to the start [2]. - An archive of the webcast will be available for 12 months for those unable to attend the live event [2][4].

Core Insights - Toll Brothers, Inc. has launched a new luxury home community named Venado Valley in Carson City, Nevada, which is now over 50% sold [1][4] - The community offers single-story homes with various floor plans and is designed to provide a tranquil living environment with mountain views [2][4] Company Overview - Toll Brothers is recognized as the nation's leading builder of luxury homes and operates in over 60 markets across 24 states [7] - The company has been publicly traded since 1986 and is listed on the New York Stock Exchange under the symbol "TOL" [7] Community Features - Venado Valley features single-family homes ranging from 2,129 to over 2,337 square feet, with options for 3 to 4 bedrooms and 2.5 to 3.5 baths [2] - Homes are priced from the upper $600,000s and include modern architectural styles such as craftsman and ranch designs [2][4] Sales and Marketing - The community includes both built-to-order and move-in ready homes, catering to various buyer timelines [4] - The Toll Brothers Design Studio offers customers a chance to personalize their homes with a wide selection of fixtures and finishes [5] Customer Experience - The community is positioned as a convenient location with access to shops, restaurants, and outdoor recreation, enhancing the appeal for potential buyers [4]

CUMMING, Ga., Nov. 20, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced it has released new home designs at its Westover community in Cumming, Georgia. The three new home designs feature thoughtfully designed floor plans with first-floor primary bedrooms and elegant architectural details, providing home shoppers with an exceptional combination of comfort and sophistication. Prices for new homes in Westover start from the mid-$700,000s. Lo ...

Core Insights - LGI Homes, Inc. is set to open Fulton Meadows, a new community of upgraded single-family homes in North Lakeland, Florida, combining small-town comfort with city connectivity [1][2] Community Features - Fulton Meadows is conveniently located near downtown Lakeland and essential services like Publix, Walmart, and Sam's Club, providing easy access to work, school, and recreation [2] - The community will include a future park and picnic area, appealing to homebuyers seeking comfort and convenience [2] Home Specifications - Homes in Fulton Meadows will feature LGI Homes' CompleteHome™ package, which includes energy-efficient Whirlpool appliances, granite countertops, and other modern upgrades at no extra cost [3] - The community offers five thoughtfully designed floor plans, catering to various family needs [4] Location Advantages - Residents will have access to numerous lakes and parks, with popular destinations like Bonnet Springs Park and Lakeland Square Mall nearby, enhancing the lifestyle experience [4] Sales and Promotions - The community is currently offering builder-paid closing costs and a streamlined homebuying process, making it an attractive option for potential buyers [5] Company Overview - LGI Homes, headquartered in The Woodlands, Texas, operates in 36 markets across 21 states and has closed over 75,000 homes since its founding in 2003, consistently delivering profitable results [6] - The company is recognized for its quality construction and customer service, earning accolades such as being named one of Newsweek's World's Most Trustworthy Companies [6]