Warren Buffett Sells Amazon, Apple, Bank of America; Invests in New Stock
In his final quarter as CEO of Berkshire Hathaway, Warren Buffett made notable moves in his investment portfolio. Form 13F filings reveal that he engaged in significant selling activity while also making a substantial purchase.
Buffett’s Selling Activity
During the fourth quarter of 2025, Buffett’s strategy leaned heavily toward selling. He divested substantial shares from three major companies:
- Amazon: Sold 7,724,000 shares, decreasing his stake by 77%.
- Apple: Reduced holdings by 10,294,956 shares, cutting his stake by 75% since the end of September 2023.
- Bank of America: Offloaded 50,774,078 shares, resulting in a 50% reduction since mid-2024.
This marked a trend of being a net seller for 13 consecutive quarters, revealing a shift in Buffett’s investment philosophy.
Reasons Behind the Selling
The rationale for these sales appears rooted in valuation concerns. For instance, when Buffett invested in Apple in 2016, the price-to-earnings (P/E) ratio was in the low-to-mid teens. By late 2025, this ratio had surged to 33. Similarly, Bank of America’s shares, once at a significant discount to book value, were now trading at a substantial premium.
A New Investment in The New York Times
While Buffett sold many shares, he also made a noteworthy investment. In his final quarter, he acquired 5,065,744 shares of The New York Times Co. for approximately $352 million.
Why The New York Times?
Buffett’s interest in The New York Times stems from its strong brand, consistent revenue growth, and robust digital subscriptions, which total 12.78 million. Additionally, the company’s dividend yield of 0.99% and regular share buybacks enhance its attractiveness.
Financial Performance Overview
Here are crucial financial stats related to The New York Times:
| Key Metrics | Value |
|---|---|
| Current Price | $73.89 |
| Market Cap | $12 billion |
| Gross Margin | 47.80% |
| Day’s Range | $72.80 – $74.56 |
| 52 Week Range | $44.83 – $74.59 |
As Warren Buffett steps down from his CEO role, his investment decisions continue to generate discussion among investors. His final actions illustrate a keen focus on valuation and brand strength as essential factors in investing.
