<p>沃伦·巴菲特在过去几个季度对 <strong>伯克希尔哈撒韦</strong>（BRK.A 0.80%）（BRK.B 0.95%）的股票投资组合做出了一些相当看跌的举动。最引人注目的是，这位传奇投资者处置了 <strong>苹果</strong> 和 <strong>美国银行</strong> 的重大投资，这些投资对伯克希尔的表现极为出色。巴菲特和他的团队已经有一段时间没有净买入股票了。</p>
<p>然而，我们最近了解到，巴菲特利用近期股市的抛售机会，增加了伯克希尔现有的三只股票头寸。以下是他购买的股票、这些投资在伯克希尔投资组合中的地位，以及一些我们_不知道_的重要事项。</p>
<h2>巴菲特无法停止购买的三只股票</h2>
<p>在美联储宣布最新的利率决定后，金融市场出现抛售，因为未来降息的速度似乎比大多数人预期的要慢。在这次抛售中，沃伦·巴菲特领导的伯克希尔哈撒韦购买了三只股票的股份：</p>
<ul>
<li>900 万股 <strong>西方石油</strong>（OXY 0.58%）</li>
<li>500 万股 <strong>天狼星 XM 广播</strong>（SIRI 0.60%）</li>
<li>234,000 股 <strong>VeriSign</strong>（VRSN 0.76%）</li>
</ul>
<p>西方石油的购买在金额上是最大的，成本约为 4.05 亿美元。其他两者的总购买量约为 1.58 亿美元。</p>
<p>在这些购买之后，伯克希尔总共拥有西方石油 28.2% 的股份，这是巴菲特近年来稳步增加的持股比例。通过这次新购买，伯克希尔还拥有近 35% 的天狼星 XM 广播和 13.6% 的 VeriSign。</p>
<p>为了明确起见，我们不知道_为什么_沃伦·巴菲特和他的团队决定进行这些购买。巴菲特很少公开谈论具体的股票购买，但这三只股票最近表现不佳，可能与此有很大关系。</p>
<h2>可能还有其他我们不知道的</h2>
<p>值得一提的是，这三只股票在伯克希尔的投资组合中是独特的。通常，我们只有在伯克希尔向 SEC 报告季度 13-F 文件时才能了解到其股票投资组合的活动，这通常在每个季度结束后 45 天发布。（最新的一次发生在 11 月中旬。）</p>
<p>我们之所以知道这三笔交易的唯一原因是，伯克希尔_被要求_及时披露这些信息，因为它在这三家公司中各自持有超过 10% 的股份。这条规则就是我们没有立即知道苹果股票出售的原因。尽管苹果曾经（并且仍然是）伯克希尔的重大投资，但它在这家科技巨头中的占比远低于 10%。然而，伯克希尔在 2024 年初拥有超过 10% 的美国银行股份。</p>
<p>我们不确定这是否是伯克希尔最近购买的唯一三只股票，或者是否还有其他股票。我们要等到 2 月份第四季度的 13-F 文件发布时才能知道。</p>
<h2>巴菲特看到了一些机会</h2>
<p>到第三季度末，伯克希尔的现金储备膨胀至超过 3250 亿美元，主要是由于其投资组合中的一些重大股票销售。不出所料，许多投资者认为巴菲特对股市的看法已经转向悲观，并预计未来会面临艰难的时刻。</p>
<p>虽然我们不知道巴菲特目前对市场的看法，而这些购买仅占伯克希尔现金的约 0.2%，但这表明他仍在寻找一些有吸引力的地方来投入至少一部分伯克希尔的资本。</p>

伯克希尔哈撒韦-B

西方石油

天狼星XM广播

伯克希尔哈撒韦-A

<p>沃伦·巴菲特的伯克希尔哈撒韦最近在之前的看跌操作后，进行了显著的股票购买。在美联储的利率决定后市场抛售的背景下，巴菲特购买了 900 万股西方石油、500 万股天狼星 XM 广播和 234,000 股 VeriSign，总计约 5.63 亿美元。伯克希尔现在在这些公司中持有显著股份，其中西方石油占 28.2%，天狼星 XM 广播接近 35%，VeriSign 占 13.6%。这些购买表明巴菲特看到了表现不佳的股票中的机会，尽管最近收购的全部情况将在即将发布的季度报告中揭晓</p>

<p>Warren Buffett has made some rather bearish moves in <strong>Berkshire Hathaway</strong>'s (BRK.A 0.80%) (BRK.B 0.95%) stock portfolio in the past few quarters. Most notably, the legendary investor disposed of significant portions of both the <strong>Apple</strong> and <strong>Bank of America</strong> investments that have performed extremely well for Berkshire. It's been quite a while since Buffett and his team have been net buyers of stocks.</p>
<div class="lb-trans"><p>沃伦·巴菲特在过去几个季度对 <strong>伯克希尔哈撒韦</strong>（BRK.A 0.80%）（BRK.B 0.95%）的股票投资组合做出了一些相当看跌的举动。最引人注目的是，这位传奇投资者处置了 <strong>苹果</strong> 和 <strong>美国银行</strong> 的重大投资，这些投资对伯克希尔的表现极为出色。巴菲特和他的团队已经有一段时间没有净买入股票了。</p>
</div><p>However, we recently learned that Buffett took advantage of the recent stock market sell-off by adding to three of Berkshire's existing stock positions. Here's what he bought, where these investments stand in Berkshire's portfolio, and some important things we <em>don't</em> know.</p>
<div class="lb-trans"><p>然而，我们最近了解到，巴菲特利用近期股市的抛售机会，增加了伯克希尔现有的三只股票头寸。以下是他购买的股票、这些投资在伯克希尔投资组合中的地位，以及一些我们_不知道_的重要事项。</p>
</div><h2>Three stocks Buffett can't stop buying</h2>
<div class="lb-trans"><h2>巴菲特无法停止购买的三只股票</h2>
</div><p>After the Federal Reserve announced its latest interest-rate decision, financial markets sold off as the pace of future rate cuts appears that it will be slower than most had expected. During the sell-off, Warren Buffett-led Berkshire Hathaway bought shares of three stocks:</p>
<div class="lb-trans"><p>在美联储宣布最新的利率决定后，金融市场出现抛售，因为未来降息的速度似乎比大多数人预期的要慢。在这次抛售中，沃伦·巴菲特领导的伯克希尔哈撒韦购买了三只股票的股份：</p>
</div><ul>
<li>9 million shares of <strong>Occidental Petroleum</strong>(OXY 0.58%)</li>
<li>5 million shares of <strong>Sirius XM</strong>(SIRI 0.60%)</li>
<li>234,000 shares of <strong>VeriSign</strong>(VRSN 0.76%)</li>
</ul>
<div class="lb-trans"><ul>
<li>900 万股 <strong>西方石油</strong>（OXY 0.58%）</li>
<li>500 万股 <strong>天狼星 XM 广播</strong>（SIRI 0.60%）</li>
<li>234,000 股 <strong>VeriSign</strong>（VRSN 0.76%）</li>
</ul>
</div><p>The Occidental purchase was the largest in terms of dollar value, with a cost of approximately $405 million. The other two combined for about $158 million in total purchase volume.</p>
<div class="lb-trans"><p>西方石油的购买在金额上是最大的，成本约为 4.05 亿美元。其他两者的总购买量约为 1.58 亿美元。</p>
</div><p>After the purchases, Berkshire owns a total of 28.2% of Occidental, a stake Buffett has built steadily in recent years. With the new purchases, Berkshire also owns nearly 35% of Sirius XM and 13.6% of VeriSign.</p>
<div class="lb-trans"><p>在这些购买之后，伯克希尔总共拥有西方石油 28.2% 的股份，这是巴菲特近年来稳步增加的持股比例。通过这次新购买，伯克希尔还拥有近 35% 的天狼星 XM 广播和 13.6% 的 VeriSign。</p>
</div><p>To be perfectly clear, we don't know <em>why</em> Warren Buffett and his team decided to make these purchases. Buffett rarely speaks publicly about specific stock purchases, but the fact that all three stocks have underperformed the market recently likely has a lot to do with it.</p>
<div class="lb-trans"><p>为了明确起见，我们不知道_为什么_沃伦·巴菲特和他的团队决定进行这些购买。巴菲特很少公开谈论具体的股票购买，但这三只股票最近表现不佳，可能与此有很大关系。</p>
</div><h2>There could be others we don't know about</h2>
<div class="lb-trans"><h2>可能还有其他我们不知道的</h2>
</div><p>It's important to mention that these three stocks are unique in Berkshire's portfolio. Typically, we only learn about Berkshire's stock portfolio activity when the company reports its quarterly 13-F filing to the SEC, which comes 45 days after the end of each quarter. (The latest one happened in mid-November.)</p>
<div class="lb-trans"><p>值得一提的是，这三只股票在伯克希尔的投资组合中是独特的。通常，我们只有在伯克希尔向 SEC 报告季度 13-F 文件时才能了解到其股票投资组合的活动，这通常在每个季度结束后 45 天发布。（最新的一次发生在 11 月中旬。）</p>
</div><p>The only reason we know about these three moves is that Berkshire is <em>required</em> to disclose them in a timely manner because it owns more than 10% of each of the three companies. This rule is why we didn't know about the Apple stock sales right away. Although Apple was (and still is) a massive investment for Berkshire, it represents far less than 10% of the tech giant. However, Berkshire owned well over 10% of Bank of America at the start of 2024.</p>
<div class="lb-trans"><p>我们之所以知道这三笔交易的唯一原因是，伯克希尔_被要求_及时披露这些信息，因为它在这三家公司中各自持有超过 10% 的股份。这条规则就是我们没有立即知道苹果股票出售的原因。尽管苹果曾经（并且仍然是）伯克希尔的重大投资，但它在这家科技巨头中的占比远低于 10%。然而，伯克希尔在 2024 年初拥有超过 10% 的美国银行股份。</p>
</div><p>We don't know for sure if these are the only three stocks Berkshire has been buying recently or if there were others. We won't find out until the fourth quarter 13-F filing is released in February.</p>
<div class="lb-trans"><p>我们不确定这是否是伯克希尔最近购买的唯一三只股票，或者是否还有其他股票。我们要等到 2 月份第四季度的 13-F 文件发布时才能知道。</p>
</div><h2>Buffett is seeing <em>some</em> opportunities</h2>
<div class="lb-trans"><h2>巴菲特看到了一些机会</h2>
</div><p>Berkshire's cash stockpile swelled to more than $325 billion at the end of the third quarter, mainly fueled by some major stock sales in its portfolio. Not surprisingly, many investors believe Buffett has soured on the stock market and is expecting tough times ahead.</p>
<div class="lb-trans"><p>到第三季度末，伯克希尔的现金储备膨胀至超过 3250 亿美元，主要是由于其投资组合中的一些重大股票销售。不出所料，许多投资者认为巴菲特对股市的看法已经转向悲观，并预计未来会面临艰难的时刻。</p>
</div><p>While we don't know Buffett's current opinion on the market, and these buys represent about 0.2% of Berkshire's cash, it's an encouraging sign that he's still finding some attractive places to put at least a little of Berkshire's capital to work.</p>
<div class="lb-trans"><p>虽然我们不知道巴菲特目前对市场的看法，而这些购买仅占伯克希尔现金的约 0.2%，但这表明他仍在寻找一些有吸引力的地方来投入至少一部分伯克希尔的资本。</p>
</div>

3 Stocks Warren Buffett Still Can't Stop Buying as This Year Comes to an End

- 巴菲特在近期减持了苹果和美国银行的股份。  
- 他在市场下跌时增持了西方石油、Sirius XM 和 VeriSign 的股票。  
- 目前，伯克希尔持有西方石油 28.2% 的股份。  

3 只沃伦·巴菲特在今年年底仍然持续买入的股票