Buffett's Final Quarter Reveals Major Stock Shake-Up and Surprising New Investment

The Oracle's Last Dance

Warren Buffett stepped down as Berkshire Hathaway's CEO on December 31, 2025 , marking the end of an era for the investment world. But the legendary investor didn't go quietly into retirement. His final quarter as CEO continued a remarkable streak—he had been a net seller of stocks for 13 consecutive quarters since October 2022 . The fourth quarter of 2025 revealed dramatic portfolio shifts that offer insights into his investment philosophy and concerns about market valuations.

In his final quarter before retirement, the Oracle of Omaha dumped shares of Amazon, Apple, and Bank of America, and made a brand-new $352 million addition to Berkshire's portfolio . These moves weren't random—they reflected deep strategic thinking about valuation and long-term value that has defined Buffett's approach for decades.

Massive Selloffs Signal Valuation Concerns

The scale of Buffett's selling activity was staggering. The sizable reduction in Amazon lowered Berkshire's stake by 77% . Even more dramatic, Buffett oversaw a 75% haircut in his company's Apple stake since September 30, 2023, and a 50% cut in the Bank of America stake since the midpoint of 2024 .

The reasoning behind these massive selloffs appears rooted in valuation concerns. When Buffett initially purchased Apple shares in the first quarter of 2016, the stock traded at a price-to-earnings ratio in the low-to-mid teens . But following several years of subpar physical device growth, it now sports a trailing 12-month P/E ratio of 33 . Amazon has never been inexpensive by traditional valuation metrics , making it a natural target for trimming when seeking better value elsewhere.

A Surprising New Bet on Traditional Media

While Buffett was selling tech giants, he made one curious addition that caught Wall Street's attention. The purchase that really stands out is The New York Times Co. Berkshire's 13F shows 5,065,744 shares were scooped up, worth nearly $352 million on December 31 .

This investment aligns perfectly with Buffett's traditional preferences. Warren Buffett has long been a fan of brand-name companies that have built consumer trust . The New York Times brand, coupled with its modest dividend and steady stream of share buybacks, laid a solid foundation . The company's digital transformation appears to be paying off, with digital subscriptions for The New York Times continuing to climb to 12.78 million as of December .

What This Means for Future Investors

Buffett's final moves as CEO send clear signals about his investment philosophy and market outlook. The massive selloffs of high-valuation tech stocks suggest he believed these companies had become overpriced relative to their fundamentals. Meanwhile, his investment in The New York Times represents a bet on a traditional media company successfully navigating digital transformation while maintaining pricing power and brand loyalty.

These portfolio changes also set up Berkshire's incoming leadership with substantial flexibility. The proceeds from these major selloffs provide enormous capital for future investments, while the New York Times purchase demonstrates that value opportunities still exist for patient investors willing to look beyond the latest market darlings. Buffett's parting message seems clear: focus on sustainable competitive advantages, reasonable valuations, and companies with proven ability to generate consistent cash flows—timeless principles that remain relevant regardless of market conditions.