<p>等待结束了。任何想知道新任 <strong>伯克希尔哈撒韦</strong>（ BRKA +0.85%)( BRKB +1.18%）首席执行官 Greg Abel 在没有 沃伦·巴菲特 的情况下会购买哪些股票的人，现在有了答案。实际上，他们有 <em>七个</em> 答案。</p>
<p>伯克希尔哈撒韦在 5 月 15 日市场收盘后提交了 2026 年第一季度的 13F 监管文件。该综合企业在 Abel 担任首席执行官的初始季度购买了七只股票。其中一只股票在众多股票中脱颖而出，成为最佳选择。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg3MDY1OS9idWZmZXR0MTctdG1mLmpwZwI2dz0zODQwAjZvcD1yZXNpemU?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg3MDY1OS9idWZmZXR0MTctdG1mLmpwZwI2dz0zODQwAjZvcD1yZXNpemU"/></p>
<p>图片来源：The Motley Fool。</p>
<h2>伯克希尔的幸运七</h2>
<p>伯克希尔哈撒韦在第一季度的六笔购买中，有四笔是增加了现有持仓。最大的一笔是将谷歌母公司 <strong>Alphabet</strong>（ GOOG 0.05%)( GOOGL 0.13%）的股份（具体来说是 A 类股票）增加了 204%。</p>
<p>伯克希尔几乎将其在 <strong>纽约时报公司</strong>（ NYT +2.95%）的持仓增加了三倍。该综合企业还增加了对房屋建筑商 <strong>莱纳</strong>（ LEN +1.85%)( LENB +2.43%）A 类和 B 类股票的持有。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvTllULnBuZwI2dz0xMjgCNm9wPXJlc2l6ZQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="纽约时报公司股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvTllULnBuZwI2dz0xMjgCNm9wPXJlc2l6ZQ"/></p>
<h2>NYSE: NYT</h2>
<p>纽约时报公司</p>
<p>今日变动</p>
<p>(2.95%) $2.20</p>
<p>当前价格</p>
<p>$76.68</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$120 亿</p>
<p>日内区间</p>
<p>$74.63 - $77.29</p>
<p>52 周区间</p>
<p>$51.03 - $87.10</p>
<p>成交量</p>
<p>200 万</p>
<p>平均成交量</p>
<p>220 万</p>
<p>毛利率</p>
<p>48.22%</p>
<p>股息收益率</p>
<p>1.00%</p>
<p><strong>达美航空</strong>（ DAL +0.01%）是伯克希尔最大的新增持仓。Abel 授权购买了 3980 万股 航空股票，截至第一季度末，该持仓的价值为 26 亿美元。伯克希尔还购买了 300 万股 <strong>梅西百货</strong>（ M +0.60%）。</p>
<p>或许是一个转折，伯克希尔哈撒韦在增加 A 类股票的同时，首次建立了对 Alphabet C 类股票的新持仓。在 Alphabet 最近的涨幅后，这家科技巨头现在成为伯克希尔的第五大持仓。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvR09PRy5wbmcCNnc9MTI4AjZvcD1yZXNpemU?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Alphabet 股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvR09PRy5wbmcCNnc9MTI4AjZvcD1yZXNpemU"/></p>
<h2>NASDAQ: GOOG</h2>
<p>Alphabet</p>
<p>今日变动</p>
<p>(-0.05%) $-0.21</p>
<p>当前价格</p>
<p>$393.11</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$4.8 万亿</p>
<p>日内区间</p>
<p>$390.90 - $404.47</p>
<p>52 周区间</p>
<p>$163.33 - $404.47</p>
<p>成交量</p>
<p>1900 万</p>
<p>平均成交量</p>
<p>1900 万</p>
<p>毛利率</p>
<p>60.43%</p>
<p>股息收益率</p>
<p>0.21%</p>
<h2>分析这些选择</h2>
<p>重要的是，巴菲特仍然积极参与伯克希尔的投资。他在今年早些时候接受 CNBC 的 Becky Quick 采访时承认，他仍在进行投资，并指出他 “不会做任何 Greg 认为错误的投资”。</p>
<p>巴菲特本质上仍然是一个 价值投资者。毫不奇怪，伯克希尔在第一季度购买的一些股票的估值被许多人视为有吸引力。梅西百货就是最好的例子，这只零售股票的前瞻性市盈率仍约为九倍。伯克希尔还利用机会在第一季度购买了达美航空的股票，几乎可以肯定是在该股票因对伊朗战争导致的燃料成本上升的担忧而受到打压时。</p>
<p>莱纳的估值也相对便宜，今天的前瞻性市盈率为 14.4。我们不知道伯克希尔第一季度交易的确切时机，但在季度后期的购买似乎更有可能，因为该股票因美国购房者需求疲软和输入成本上升而下跌。然而，Abel 和巴菲特无疑明白莱纳的长期前景依然稳固。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvTEVOLnBuZwI2dz0xMjgCNm9wPXJlc2l6ZQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="莱纳股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvTEVOLnBuZwI2dz0xMjgCNm9wPXJlc2l6ZQ"/></p>
<h2>NYSE: LEN</h2>
<p>莱纳</p>
<p>今日变动</p>
<p>(1.85%) $1.52</p>
<p>当前价格</p>
<p>$83.82</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$210 亿</p>
<p>日内区间</p>
<p>$82.73 - $85.42</p>
<p>52 周区间</p>
<p>$82.06 - $144.24</p>
<p>成交量</p>
<p>340 万</p>
<p>平均成交量</p>
<p>300 万</p>
<p>毛利率</p>
<p>16.72%</p>
<p>股息收益率</p>
<p>2.39%</p>
<p>巴菲特可能影响了伯克希尔对 Alphabet 两类股票的购买。他一直后悔多年前没有建立对该股票的持仓。尽管这位传奇投资者可能不认为 Alphabet 的云业务在他的能力范围内，但他在看到强大护城河时会有所认同。</p>
<p>那么，伯克希尔在纽约时报公司持股显著增加的原因是什么呢？或许对这笔购买的最佳解释是，该媒体公司的数字化举措持续取得成效。例如，纽约时报公司在 2 月份报告称，其数字广告收入在 2025 年第四季度同比飙升 24.9%。</p>
<h2>最佳选择</h2>
<p>伯克希尔哈撒韦在第一季度的股票购买是合理的。然而，如果我必须选择其中最佳的，那就是 Alphabet。你可以抛硬币决定是 A 类股票还是 C 类股票更值得关注。</p>
<p>Alphabet 在几乎所有塑造未来的主要技术趋势中都处于有利位置。它是人工智能（AI）的领导者。谷歌云是三大云服务提供商中增长最快的。谷歌 Gemini 是最强大的 AI 模型之一。该公司的张量处理单元（TPUs）需求如此强劲，以至于 Alphabet 现在将其出售给外部客户。</p>
<p>Waymo 在自动驾驶叫车市场处于领先地位。谷歌量子 AI 正在激烈竞争开发强大的量子计算机。Alphabet 的 Verily 正在利用技术改善医疗保健。其 Calico 部门在延长人类寿命方面处于前沿。</p>
<p>可以肯定的是，Alphabet 的股价并不像伯克希尔在第一季度购买的其他股票那样便宜。但从未来的角度来看，我认为它显然是其中最好的选择。</p>

谷歌-C

谷歌-A

伯克希尔哈撒韦-B

伯克希尔哈撒韦-A

莱纳房产-B

纽约时报

莱纳房产-A

达美航空

GOOW

云计算 ETF - GlobalX

<p>在新任首席执行官 Greg Abel 的领导下，伯克希尔哈撒韦在 2026 年第一季度购买了七只股票，其中对 Alphabet 的持股增加了 204%，并在达美航空建立了价值 26 亿美元的新头寸。该公司还扩大了在纽约时报和莱纳房产的持股。尽管巴菲特的角色有所减弱，但他在投资决策中仍然具有影响力。Alphabet 因其在人工智能和云服务领域的领导地位而被突出为最具亮点的投资</p>

<p>The wait is over. Anyone wondering which stocks new <strong>Berkshire Hathaway</strong>( BRKA +0.85%)( BRKB +1.18%) CEO Greg Abel would buy in the company's first quarter without Warren Buffett as CEO now has an answer. Actually, they have <em>seven</em> answers.</p>
<div class="lb-trans"><p>等待结束了。任何想知道新任 <strong>伯克希尔哈撒韦</strong>（ BRKA +0.85%)( BRKB +1.18%）首席执行官 Greg Abel 在没有 沃伦·巴菲特 的情况下会购买哪些股票的人，现在有了答案。实际上，他们有 <em>七个</em> 答案。</p>
</div><p>Berkshire Hathaway submitted its 13F regulatory filing for the first quarter of 2026 after the market closed on May 15. The conglomerate bought seven stocks during Abel's initial quarter at the helm. And one of them stands out as the best of the bunch.</p>
<div class="lb-trans"><p>伯克希尔哈撒韦在 5 月 15 日市场收盘后提交了 2026 年第一季度的 13F 监管文件。该综合企业在 Abel 担任首席执行官的初始季度购买了七只股票。其中一只股票在众多股票中脱颖而出，成为最佳选择。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzA2NTkvYnVmZmV0dDE3LXRtZi5qcGcmdz0zODQw" alt="Warren Buffett." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F870659%2Fbuffett17-tmf.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: The Motley Fool.</p>
<div class="lb-trans"><p>图片来源：The Motley Fool。</p>
</div><h2>Berkshire's lucky seven</h2>
<div class="lb-trans"><h2>伯克希尔的幸运七</h2>
</div><p>Four of Berkshire Hathaway's six purchases in Q1 added shares to existing positions. The biggest of these was increasing the stake in Google parent <strong>Alphabet</strong>( GOOG 0.05%)( GOOGL 0.13%) (specifically, the Class A shares) by 204%.</p>
<div class="lb-trans"><p>伯克希尔哈撒韦在第一季度的六笔购买中，有四笔是增加了现有持仓。最大的一笔是将谷歌母公司 <strong>Alphabet</strong>（ GOOG 0.05%)( GOOGL 0.13%）的股份（具体来说是 A 类股票）增加了 204%。</p>
</div><p>Berkshire nearly tripled its position in <strong>The New York Times Company</strong>( NYT +2.95%). The conglomerate also added to its holdings of the Class A and Class B shares of homebuilder <strong>Lennar</strong>( LEN +1.85%)( LENB +2.43%).</p>
<div class="lb-trans"><p>伯克希尔几乎将其在 <strong>纽约时报公司</strong>（ NYT +2.95%）的持仓增加了三倍。该综合企业还增加了对房屋建筑商 <strong>莱纳</strong>（ LEN +1.85%)( LENB +2.43%）A 类和 B 类股票的持有。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05ZVC5wbmcmdz0xMjg" alt="The New York Times Co. Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FNYT.png&amp;w=128&amp;op=resize"/></p>
<h2>NYSE: NYT</h2>
<div class="lb-trans"><h2>NYSE: NYT</h2>
</div><p>The New York Times Co.</p>
<div class="lb-trans"><p>纽约时报公司</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(2.95%) $2.20</p>
<div class="lb-trans"><p>(2.95%) $2.20</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$76.68</p>
<div class="lb-trans"><p>$76.68</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$12B</p>
<div class="lb-trans"><p>$120 亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$74.63 - $77.29</p>
<div class="lb-trans"><p>$74.63 - $77.29</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$51.03 - $87.10</p>
<div class="lb-trans"><p>$51.03 - $87.10</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>2M</p>
<div class="lb-trans"><p>200 万</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>2.2M</p>
<div class="lb-trans"><p>220 万</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>48.22%</p>
<div class="lb-trans"><p>48.22%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>1.00%</p>
<div class="lb-trans"><p>1.00%</p>
</div><p><strong>Delta Air Lines</strong>( DAL +0.01%) ranks as Berkshire's largest new holding. Abel authorized the purchase of 39.8 million shares of the airline stock, with the position valued at $2.6 billion at the end of Q1. Berkshire also bought 3 million shares of <strong>Macy's</strong>( M +0.60%).</p>
<div class="lb-trans"><p><strong>达美航空</strong>（ DAL +0.01%）是伯克希尔最大的新增持仓。Abel 授权购买了 3980 万股 航空股票，截至第一季度末，该持仓的价值为 26 亿美元。伯克希尔还购买了 300 万股 <strong>梅西百货</strong>（ M +0.60%）。</p>
</div><p>In what was perhaps a twist, Berkshire Hathaway initiated a new position in Alphabet's Class C shares in addition to scooping up more Class A shares. After Alphabet's recent gains, the tech giant now ranks as Berkshire's fifth-largest holding.</p>
<div class="lb-trans"><p>或许是一个转折，伯克希尔哈撒韦在增加 A 类股票的同时，首次建立了对 Alphabet C 类股票的新持仓。在 Alphabet 最近的涨幅后，这家科技巨头现在成为伯克希尔的第五大持仓。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0dPT0cucG5nJnc9MTI4" alt="Alphabet Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FGOOG.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: GOOG</h2>
<div class="lb-trans"><h2>NASDAQ: GOOG</h2>
</div><p>Alphabet</p>
<div class="lb-trans"><p>Alphabet</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(-0.05%) $-0.21</p>
<div class="lb-trans"><p>(-0.05%) $-0.21</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$393.11</p>
<div class="lb-trans"><p>$393.11</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$4.8T</p>
<div class="lb-trans"><p>$4.8 万亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$390.90 - $404.47</p>
<div class="lb-trans"><p>$390.90 - $404.47</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$163.33 - $404.47</p>
<div class="lb-trans"><p>$163.33 - $404.47</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>19M</p>
<div class="lb-trans"><p>1900 万</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>19M</p>
<div class="lb-trans"><p>1900 万</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>60.43%</p>
<div class="lb-trans"><p>60.43%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.21%</p>
<div class="lb-trans"><p>0.21%</p>
</div><h2>Analyzing the picks</h2>
<div class="lb-trans"><h2>分析这些选择</h2>
</div><p>Importantly, Buffett is still actively involved with Berkshire's investing. He acknowledged in an interview with CNBC's Becky Quick earlier this year that he's still making investments, noting that he &#34;won't make any that Greg thinks are wrong.&#34;</p>
<div class="lb-trans"><p>重要的是，巴菲特仍然积极参与伯克希尔的投资。他在今年早些时候接受 CNBC 的 Becky Quick 采访时承认，他仍在进行投资，并指出他 “不会做任何 Greg 认为错误的投资”。</p>
</div><p>Buffett remains a value investor at heart. Unsurprisingly, some of the stocks Berkshire bought in Q1 traded at valuations many would view as attractive. Macy's is the best example, with the retail stock still trading at around nine times forward earnings. Berkshire also took advantage of an opportunity to scoop up shares of Delta Air Lines in Q1, almost certainly when the stock was beaten down over worries about rising fuel costs resulting from the Iran war.</p>
<div class="lb-trans"><p>巴菲特本质上仍然是一个 价值投资者。毫不奇怪，伯克希尔在第一季度购买的一些股票的估值被许多人视为有吸引力。梅西百货就是最好的例子，这只零售股票的前瞻性市盈率仍约为九倍。伯克希尔还利用机会在第一季度购买了达美航空的股票，几乎可以肯定是在该股票因对伊朗战争导致的燃料成本上升的担忧而受到打压时。</p>
</div><p>Lennar is also relatively inexpensive, with a forward earnings multiple of 14.4 today. We don't know the exact timing of Berkshire's Q1 trades, but purchases later in the quarter seem likely after the stock sank because of weaker demand from U.S. homebuyers and rising input costs. Abel and Buffett, though, no doubt understand that Lennar's long-term prospects remain solid.</p>
<div class="lb-trans"><p>莱纳的估值也相对便宜，今天的前瞻性市盈率为 14.4。我们不知道伯克希尔第一季度交易的确切时机，但在季度后期的购买似乎更有可能，因为该股票因美国购房者需求疲软和输入成本上升而下跌。然而，Abel 和巴菲特无疑明白莱纳的长期前景依然稳固。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0xFTi5wbmcmdz0xMjg" alt="Lennar Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FLEN.png&amp;w=128&amp;op=resize"/></p>
<h2>NYSE: LEN</h2>
<div class="lb-trans"><h2>NYSE: LEN</h2>
</div><p>Lennar</p>
<div class="lb-trans"><p>莱纳</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(1.85%) $1.52</p>
<div class="lb-trans"><p>(1.85%) $1.52</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$83.82</p>
<div class="lb-trans"><p>$83.82</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$21B</p>
<div class="lb-trans"><p>$210 亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$82.73 - $85.42</p>
<div class="lb-trans"><p>$82.73 - $85.42</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$82.06 - $144.24</p>
<div class="lb-trans"><p>$82.06 - $144.24</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>3.4M</p>
<div class="lb-trans"><p>340 万</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>3M</p>
<div class="lb-trans"><p>300 万</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>16.72%</p>
<div class="lb-trans"><p>16.72%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>2.39%</p>
<div class="lb-trans"><p>2.39%</p>
</div><p>Buffett could have influenced Berkshire's buys of both classes of Alphabet's shares. He has long regretted not initiating a position in the stock years ago. Although the legendary investor might not view Alphabet's cloud business as in his wheelhouse, he recognizes a strong moat when he sees one.</p>
<div class="lb-trans"><p>巴菲特可能影响了伯克希尔对 Alphabet 两类股票的购买。他一直后悔多年前没有建立对该股票的持仓。尽管这位传奇投资者可能不认为 Alphabet 的云业务在他的能力范围内，但他在看到强大护城河时会有所认同。</p>
</div><p>What about the significant increase in Berkshire's stake in The New York Times Company? Perhaps the best explanation of this purchase is that the media company's digital initiatives continue to pay off. For example, The New York Times Company reported in February that its digital advertising revenue soared 24.9% year over year in the fourth quarter of 2025.</p>
<div class="lb-trans"><p>那么，伯克希尔在纽约时报公司持股显著增加的原因是什么呢？或许对这笔购买的最佳解释是，该媒体公司的数字化举措持续取得成效。例如，纽约时报公司在 2 月份报告称，其数字广告收入在 2025 年第四季度同比飙升 24.9%。</p>
</div><h2>The best of the bunch</h2>
<div class="lb-trans"><h2>最佳选择</h2>
</div><p>Berkshire Hathaway's stock buys in Q1 make sense. However, if I had to pick the best of the bunch, it would be Alphabet. You can flip a coin on whether the company's Class A or Class C shares get top billing.</p>
<div class="lb-trans"><p>伯克希尔哈撒韦在第一季度的股票购买是合理的。然而，如果我必须选择其中最佳的，那就是 Alphabet。你可以抛硬币决定是 A 类股票还是 C 类股票更值得关注。</p>
</div><p>Alphabet is well-positioned to profit from nearly every major technology trend shaping the future. It's a leader in artificial intelligence (AI). Google Cloud is the fastest-growing of the top three cloud service providers. Google Gemini is one of the most powerful AI models. The company's Tensor Processing Units (TPUs) are in such strong demand that Alphabet is now selling them to external customers.</p>
<div class="lb-trans"><p>Alphabet 在几乎所有塑造未来的主要技术趋势中都处于有利位置。它是人工智能（AI）的领导者。谷歌云是三大云服务提供商中增长最快的。谷歌 Gemini 是最强大的 AI 模型之一。该公司的张量处理单元（TPUs）需求如此强劲，以至于 Alphabet 现在将其出售给外部客户。</p>
</div><p>Waymo is at the head of the pack in the autonomous ride-hailing market. Google Quantum AI is in the thick of the race to develop powerful quantum computers. Alphabet's Verily is using technology to improve healthcare. Its Calico unit is at the forefront of expanding human longevity.</p>
<div class="lb-trans"><p>Waymo 在自动驾驶叫车市场处于领先地位。谷歌量子 AI 正在激烈竞争开发强大的量子计算机。Alphabet 的 Verily 正在利用技术改善医疗保健。其 Calico 部门在延长人类寿命方面处于前沿。</p>
</div><p>To be sure, Alphabet isn't nearly as cheap as most of the other stocks Berkshire bought in Q1. But from a future-oriented standpoint, I think it's clearly the best of the bunch.</p>
<div class="lb-trans"><p>可以肯定的是，Alphabet 的股价并不像伯克希尔在第一季度购买的其他股票那样便宜。但从未来的角度来看，我认为它显然是其中最好的选择。</p>
</div>

Berkshire Hathaway Bought 7 Stocks in Its First Quarter Without Warren Buffett as CEO: Here's the Best of the Bunch.

- 伯克希尔哈撒韦在 2026 年第一季度购买了七只股票。  
- 其中，Delta Air Lines 和 Alphabet 的股份增持最为显著。  
- 公司 CEO 艾贝尔的首次操作获得市场关注与评价。

伯克希尔哈撒韦在沃伦·巴菲特不再担任 CEO 的情况下，在第一季度购买了 7 只股票：以下是其中最优秀的一只