Berkshire Hathaway Reveals New York Times Stake, Trims Apple and Amazon

Berkshire Hathaway's most recent U.S. equity filing shows a notable portfolio shift for the quarter ended December 31, 2025.

In its Form 13F filed on February 17, 2026, Berkshire disclosed a new position in The New York Times Company while reducing stakes in both Apple and Amazon.

What changed in Berkshire's filing

Based on widely reported Q4 2025 13F details:

• New York Times (NYT): new position of about 5.07 million shares (roughly $351.7 million at year-end). [5, 4]
• Apple (AAPL): reduced from 238,212,764 shares in Q3 to 227,917,808 shares in Q4 (down about 4.3%). [3, 2]
• Amazon (AMZN): reduced from 10,000,000 shares in Q3 to 2,276,000 shares in Q4 (down about 77.2%). [3, 2, 6]

Why the filing matters

13F reports are one of the few standardized ways to track large U.S. institutional equity positions.

For Berkshire, the latest report suggests:

• Continued active rebalancing inside mega-cap tech.
• A more selective position size in Amazon.
• A fresh allocation to a traditional media company through NYT.

The NYT "black-and-white" bargain

The NYT purchase is the most "Buffett-like" move in this filing: a legacy brand with a modern digital revenue engine.

The value-investing logic is straightforward:

• Digital moat: a large subscription-led model can produce recurring revenue and reduce cyclicality. [5, 4]
• Brand power: in an era of AI-generated content and misinformation, trusted editorial brands may carry higher economic value. [6, 4]
• Financial discipline: the thesis aligns with Berkshire's focus on durable cash generation and quality balance sheets. [5, 6]

Other notable portfolio shuffles

• Bank of America (BAC): Berkshire reportedly cut the position by roughly 9% (about 50.8 million shares). [5, 4]
• Chevron (CVX): Berkshire reportedly added around 8 million shares, increasing energy exposure while trimming parts of big tech. [5, 4, 6]

Transition context: Greg Abel

This filing is also being read as pre-transition positioning: Berkshire reduces some high-valuation tech exposure, adds selective value-oriented positions, and preserves major financial flexibility.

Rather than a single directional bet, the mix points to a more defensive portfolio stance going into the next leadership chapter.

Important context on timing

Form 13F is backward-looking.
This filing is a snapshot as of December 31, 2025, published weeks later on February 17, 2026. It does not show real-time trading activity after quarter-end.

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