Warren Buffett's Berkshire Hathaway slashed its Amazon stake by 77%, selling 7.7 million shares worth nearly $1.7 billion in the latest 13-F filing. The move marks a dramatic shift from Buffett's 2019 entry into the e-commerce giant, as the legendary investor pivots back to traditional sectors he's favored for decades.

Berkshire also reduced its Apple holdings to a 1.5% position while opening a new $352 million stake in The New York Times, sending the publisher's shares up 10%. The conglomerate expanded positions in Chubb and Chevron, signaling confidence in insurance and energy sectors. Buffett also agreed to acquire Occidental Petroleum's petrochemical business for $9.7 billion and built a $5.6 billion position in Google.

The portfolio reshuffling suggests Berkshire is preparing for potential economic turbulence by doubling down on businesses with durable competitive advantages. While the Amazon reduction drew headlines, the broader pattern reveals a classic Buffett move: retreating from high-growth tech toward stable, cash-generating businesses with strong moats. The strategy shift comes as Berkshire continues to deploy its massive cash reserves amid market uncertainty.