Filings: Warren Buffett's Berkshire Hathaway cut its Amazon stake by 75%+ to ~2.3M shares in Q4 2025; Berkshire bought 5.1M NYT shares, worth ~$352M in December
Warren Buffett's Berkshire Hathaway Inc. slashed its stake in Amazon.com Inc. by more than 75% in the fourth quarter …
Context & Ripple Effects
Berkshire's latest filing extends a record of sizable public-equity repositioning: it had already halved its Apple position in 2024 after an earlier reduction. Its prior sharp cuts to HP and TSMC show that large percentage changes in individual technology holdings are not unprecedented within the portfolio.
The new disclosure pairs a much smaller Amazon position with a new New York Times stake, making the filing notable as an allocation shift across two prominent public companies rather than a statement about either company's operating performance.
First-order effects
- Berkshire now has substantially less direct exposure to Amazon share-price movements, while its 5.1 million New York Times shares create a new disclosed equity position worth about $352 million in December.
- Investors in Amazon and The New York Times gain a concrete view of Berkshire's reported Q4 positioning, although the filing does not establish the rationale for either trade.
Second-order effects
- The disclosure is likely to focus market attention on Berkshire's changing mix of large technology and media holdings, especially following its earlier reduction of HP shares.
- For the New York Times, Berkshire's entry adds a closely watched institutional shareholder; for Amazon, the sale removes a large reported holder from Berkshire's disclosed portfolio without changing Amazon's business operations.
Third-order effects
- If repeated across future filings, the pattern would reinforce Berkshire's use of public-equity holdings as an actively resized portfolio rather than permanently held endorsements of individual technology companies.
- The broader signal is that prominent investors' periodic filings can increasingly move attention between AI-adjacent technology stocks and media equities, even when the filings reveal positions rather than investment theses.
The trend: Berkshire's filing is one data point in a broader shift toward more frequent, large-scale rebalancing of marquee public-equity positions by long-term investors.