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Weekend Reading | The Sage's Swan Song: Buffett’s Legacy, Mistakes, and Berkshire’s Century-Long Transformation
Warren Buffett is set to step down after 61 years at the helm of Berkshire Hathaway, capping off his managerial career with a pre-holiday letter brimming with gratitude and wisdom.
Buffett's Final Holdings Report Before 'Retirement': Selling Apple, Buying Google, Net Selling for 12 Consecutive Quarters
①Berkshire Hathaway released its Q3 13F report, showing that Buffett sold a significant portion of Apple shares while purchasing shares in Alphabet, the parent company of Google; ②Buffett will step down as CEO of Berkshire Hathaway by the end of the year, making this report his final detailed disclosure of the stock investment portfolio.
Before Buffett’s 'retirement,' Berkshire adjusted its giant bets: Accelerated selling of Apple in Q3 and established a position in Google.
Berkshire Hathaway sold Apple shares for two consecutive quarters, offloading 41.79 million shares in the third quarter, more than double the amount from the second quarter, reducing its market value by approximately $10.6 billion within a single quarter, making Apple the most significantly reduced holding during that period; Bank of America shares worth over $1.9 billion were sold in the third quarter, second only to Apple in scale, with its stake being cut by 45% over the past year. For the first time in the third quarter, Berkshire initiated a position in Alphabet, purchasing 17.85 million shares, elevating the Google parent company to become the tenth largest holding. Media reports suggest this purchase might not have been made by Buffett but possibly by one of Berkshire's two portfolio managers. Among the top ten holdings, Chubb Ltd was the only stock that saw an increase in the third quarter.
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