In the fourth quarter of 2025, Bershire Hathaway dramatically slashed its Amazon stake by more than 75%, paring it down to a modest 2.3 million shares. At the same time, Berkshire scooped up 5.1 million shares of The New York Times Co., a fresh $351.7 million position that sent the newspaper’s stock popping in early trading.
The market reacted with the enthusiasm of a reader discovering the crossword is easier than expected. New York Times shares climbed about 1.8% to $75.39 shortly after the filing hit, while Amazon managed a polite 1.3% nudge upward—perhaps out of sheer relief at seeing less Buffett scrutiny.
This reshuffling carries real weight in investor circles, where Buffett’s moves are treated like market scripture. Dumping most of Amazon, a holding he once called himself an “idiot” for not buying sooner back in 2019, suggests a quiet reevaluation of sky-high tech retail valuations.
Meanwhile, betting on The New York Times—a company that has masterfully pivoted from print obituaries to digital puzzles, recipes, and podcasts—feels like a nod to businesses that print money in subtler ways than next-day delivery drones.
Berkshire didn’t stop there. The firm kept trimming Bank of America and Apple, reducing those stakes to 7.1% and 1.5% respectively after starting the cuts in 2024. On the brighter side, it boosted positions in Chevron and Chubb, climbing to 6.5% and 8.7% ownership—classic Buffett comfort zones of energy and insurance.
The timing adds a layer of poignancy. Buffett stepped down as CEO on December 31, 2025, after decades of turning a sleepy textile company into a behemoth. This quarter’s trades, revealed in the routine 13F filing, mark his parting shot: less enthusiasm for the everything-store giant, more affection for a media outfit that’s thrived by charging readers for quality instead of giving it away.
Investors now watch to see if successor Greg Abel keeps the same folksy discipline or adds his own flair. For now, the message from Omaha seems clear: even legends occasionally trade prime packages for tomorrow’s headlines.
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