Lana

More on the way, but first, a word from Guy at Finimize HQ.

Berkshire Hathaway pruned its portfolio last quarter, cutting back tech positions and slicing billions off its power holdings.

Warren Buffett's firm trimmed its stakes in Apple, Bank of America, and Amazon last quarter, slashing the latter by more than 75%.

Berkshire then funneled some of that spare cash into energy giant Chevron and insurer Chubb, dialing back its exposure to high-hype stocks in favor of dependable companies bringing in steady cash.

The conglomerate scooped up a $352 million stake in the New York Times, too, news that prompted investors to send its stock up.

Separately, Berkshire's utility arm agreed to sell nearly $2 billion worth of power assets.

That cash will help cover some of the wildfire-related costs that have piled up over the past few years.

Berkshire didn't spell out why it snubbed Amazon, but its timing lines up with the growing threat of AI shopping concierges disrupting the e-commerce business model.

These days, you can ask an AI agent what to buy, in which color, and from where, and complete the order without ever leaving the chat.

If that stops folks trawling through links and browsing different websites, online retailers could lose customers, data, and advertising opportunities.

And sure, they could feature their products inside those AI chats, but they'd have to pay for the privilege.

The conglomerate has a reputation for sitting on stocks far longer than your average investor.

Warren Buffett even said his favorite holding period is forever.

And while these sales stand out, they don't necessarily mean Berkshire's lost all faith in the firms.

Major trims like these are often just portfolio housekeeping, cutting back positions that have grown too big and freeing up cash for other tempting investments.

Before we dive into the next story, it's time for our daily check-in with Carl.

You've got questions, he's got answers.

Carl, what have you got for us?

Thanks, Carl.

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