E.T G :
Berkshire had already reduced its Amazon stake by 77% in Q4 2025, and in Q1 2026 it completely zeroed out its position. From roughly 2,276,000 shares, it went to 0, according to 13F filings.
My read: this isn't necessarily a vote of no confidence in Amazon. It's a portfolio cleanup post-Buffett, with Abel now at the helm, and possibly an unloading of positions that belonged more to the "Combs/Weschler bucket" than to the old Berkshire core. At the same time, they dramatically increased their Alphabet stake, so they're not moving away from tech — they're just switching horses within the same AI/hyperscaler race.
Why Amazon out and Alphabet in? Possible reasons: valuation, margin profile, AI capex risk, AWS competition, and the fact that Google has a massive advertising engine + cloud + AI infrastructure with a more "Berkshire-like" monopolistic feel. Amazon is a beast, but it's a more complex beast: retail, logistics, AWS, advertising, enormous capex.
So behind the sale, I see three things: leadership succession, portfolio pruning, and repositioning from Amazon toward Alphabet. Not a prophecy of Amazon's collapse. More like Berkshire saying: "we want cleaner exposure to the AI infrastructure story, with a different price/value equation."
2026-05-25 16:08:11