Warren Buffett Cuts Amazon Stake Sharply, Boosts Investment In New York Times In Major Portfolio Shift
· Free Press Journal
Veteran investor Warren Buffett made significant changes to Berkshire Hathaway’s portfolio in the fourth quarter, reducing its stake in Amazon and increasing investment in The New York Times Company.
These moves were revealed in regulatory filings submitted on 17 February. They are described as Buffett’s final stock-related decisions as chief executive of Berkshire Hathaway before handing over leadership to Greg Abel in January.
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Amazon Stake Cut By Over 75 percent
During the October–December quarter, Berkshire reduced its Amazon holding by more than 75 per cent, bringing it down to about 2.3 million shares. Berkshire had first invested in Amazon in 2019. At that time, Buffett had admitted he had been slow to invest in the technology giant.
'When Amazonians Get Married': Bride Adds Amazon Logo To Mehendi As Tribute To Workplace Romance - VideoThe sharp reduction marks a major shift away from one of the world’s biggest retail and technology companies.
Big Bet On New York Times
At the same time, Berkshire bought 5.1 million shares of The New York Times Company. The investment was valued at about USD 351.7 million at the end of the year.
After the disclosure, shares of the New York Times Company rose more than 10 per cent in post-market trading in New York. The move shows a stronger focus on media publishing.
Changes In Other Major Holdings
Berkshire also trimmed its holdings in Apple Inc. and Bank of America Corp.. Its stakes were reduced to 1.5 per cent and 7.1 per cent respectively. Buffett had already started cutting these positions in 2024.
After 16,000 Layoffs, Amazon Looking To Invest $50 Billion In OpenAIOn the other hand, Berkshire increased its investments in Chevron Corp. and insurer Chubb, raising its stakes to 6.5 per cent and 8.7 per cent.
Focus On Energy And Insurance
Berkshire has been building its position in Chubb since last year. The company also completed a USD 9.7 billion deal to buy the petrochemical business of Occidental Petroleum Corp. and built a USD 5.6 billion stake in Alphabet Inc. in recent quarters.
Overall, the fourth-quarter changes show a clear shift in strategy as leadership transitions, with money moving away from some big technology stocks toward energy, insurance and media.