Berkshire Hathaway made a striking portfolio pivot in the fourth quarter, selling more than 75% of its Amazon (AMZN) stake and using part of the proceeds to build a meaningful position in The New York Times (NYT). A regulatory filing Tuesday shows Berkshire bought 5.1 million NYT shares in the three months through December — a holding valued at $351.7 million at year-end. The NYT purchase is notable on several levels. It marks a return to newspaper ownership for Warren Buffett five years after he exited the sector and warned of long-term declines for many publishers. The move appears to have fed investor optimism: NYT shares rose about 1.8% to $75.39 in early trading Wednesday and ticked up another roughly 1% by midday, while Amazon was up more than 2% at press time. Those trades were part of a broader reshuffle at Berkshire as Buffett prepared for retirement. The company continued trimming positions in Bank of America and Apple — reducing them to 7.1% and 1.5% stakes, respectively — after beginning cuts in 2024. At the same time, Berkshire boosted its holdings in oil major Chevron and insurer Chubb to 6.5% and 8.7%, respectively. Berkshire’s increased exposure to energy comes as oil names have rallied — Chevron (CVX) and ExxonMobil (XOM) have posted double-digit gains in the past month amid U.S. actions in Venezuela. The pattern — dialing back some big-cap tech and financial exposures while adding to media, energy and insurance — suggests a strategic rotation into cash-generating, defensive or cyclically advantaged businesses. Takeaway: Buffett’s latest trades underscore a shift in conviction from a pure tech-heavy stance toward select legacy media, energy and insurance bets, signaling confidence in the NYT’s business model and in an oil rebound. Moves like these can influence broader market sentiment and capital flows — a dynamic crypto traders and investors watch closely as institutional reallocations reshape risk-on and risk-off trends. Read more AI-generated news on: undefined/news

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