Warren Buffett dumps $1.7B of Amazon stock
5 hours ago
- #Berkshire Hathaway
- #Stock Portfolio
- #Warren Buffett
- Berkshire Hathaway reduced its Amazon stake by 77%, selling 7.7 million shares worth $1.7 billion.
- Opened a new position in New York Times, purchasing 5 million shares (~$352M), boosting NYT stock by 10%.
- Reduced Apple holdings to 1.5%, signaling a retreat from large tech names.
- Expanded stakes in Chubb (insurance) and Chevron (energy), reflecting a shift to recession-resistant sectors.
- Acquired Occidental Petroleum's petrochemical business for $9.7B and built a $5.6B position in Google.
- Strategic adjustments suggest Berkshire is preparing for a potential economic downturn.