Warren Buffett's Berkshire Hathaway Inc. has made notable changes to its investment portfolio, cutting its stake in Amazon.com Inc. by over 75 percent in the fourth quarter. This move comes as part of a broader strategy where Berkshire has simultaneously increased its investment in The New York Times Company, marking this as one of Buffett's final significant actions as CEO of the conglomerate before his retirement. The company also divested from investments in BYD, a Chinese electric vehicle manufacturer, in September of the previous year.

In the last three months of the year, Berkshire Hathaway acquired 5.1 million shares of The New York Times, equating to a total investment valued at $351.7 million by year-end. This acquisition indicates a strategic pivot towards media, despite Buffett's long-standing preference for other sectors. His initial investment in Amazon was back in 2019, where he admitted to having been 'an idiot' for not buying shares sooner, reflecting his changing stance on technology stocks, particularly in relation to the e-commerce giant.

As of now, Berkshire retains approximately 2.3 million shares of Amazon. This substantial reduction in shareholdings highlights a significant shift in Buffett's investment philosophy, particularly as he prepares to hand over the reins of the company. The implications of these changes suggest a more cautious approach towards tech investments and a renewed focus on media and potentially undervalued sectors as Buffett approaches his retirement, which could influence market trends and investor sentiments moving forward.