Tonight, the market focuses on Berkshire: Is Buffett continuing to reduce his stake in Apple? Which "mystery stock" was purchased for nearly $5 billion?

Tonight, all eyes in the market are focused on a document that is about to be released—the latest holdings of Warren Buffett.

According to regulations, Berkshire Hathaway must disclose its 13F holdings report as of June 30 to the SEC by August 14 (Thursday), and Buffett has always preferred to submit at the last minute, keeping the suspense until the very end.

This list is expected to answer two key questions: Is Buffett continuing to reduce his heavy position in Apple, and which company is the target of a mysterious investment totaling nearly $5 billion?

An "invisible" large buy order, possibly pointing to the industrial sector

According to a previous article by Jianwen, speculation about this mysterious investment mainly stems from Berkshire's disclosed quarterly financial reports. The company did not detail smaller-scale investments outside of its major holdings like Apple, American Express, Coca-Cola, Chevron, and Bank of America in its 10-Q report, but instead categorized its nearly $300 billion equity investments into three broad categories: financials, consumer goods, and "commercial, industrial, and others."

According to analysis by Barron's, the clue is hidden in the "commercial, industrial, and others" category. In the first quarter of this year, the cost basis for this category increased by nearly $2 billion, but no corresponding large industrial stock purchases appeared in the 13-F document disclosed in May.

In the second quarter's 10-Q report, the cost basis for this category increased again by $2.8 billion. Combining the data from the two quarters, the cumulative purchase amount for this mysterious investment could reach as high as $4.8 billion, leading the market to speculate that its target is a large industrial company.

Selling direction: Bank of America is almost certain, Apple is the biggest suspense

The selling actions are also worth noting.

The reduction in Bank of America shares is almost a foregone conclusion—since mid-last year, Berkshire's holdings have decreased from 1.03 billion shares to 631 million shares, a drop of nearly 40%. The second quarter's 10-Q report suggests that Buffett may have sold about $4 billion worth of Bank of America stock.

In contrast, Apple is the "main event" tonight. As the largest single holding in Berkshire's portfolio, Apple accounted for about 25% of its entire stock investment portfolio as of the first quarter. As of March 31, the market value of Berkshire's Apple shares was $66.6 billion.

This year, Buffett has repeatedly stated that he would make "rational adjustments" when valuations are appropriate, leading the market to speculate whether he has restarted the reduction of this position in the second quarter