Warren Buffett’s final quarter as Berkshire Hathaway CEO saw the company acquire a stake in an iconic newspaper publisher.
The famed investor’s conglomerate scooped up around 5.1 million shares of The New York Times Company during the last three months of 2025, its quarterly portfolio disclosure revealed on Tuesday. The position was valued at about $352 million at the end of December.
Buffett and his two investment managers at the time, Ted Weschler and Todd Combs — who has since quit to work for Jamie Dimon at JPMorgan — also pared their key Apple and Bank of America stakes once again, by about 4% and 9% respectively.
Berkshire offloaded 77% of its Amazon stake, fueling a sharp decline in the position’s value from $2.2 billion at the end of September to $525 million at December’s close.
The company added to other holdings, including Chubb and Chevron, while selling down the likes of Aon. It didn’t touch its Alphabet stake, established in the third quarter, but the position’s value jumped from around $4.3 billion to $5.6 billion as shares of Google’s parent company surged in the period.
Buffett, 95, took control of Berkshire when it was a failing textile mill in 1965 and grew it into a $1 trillion conglomerate over the next six decades.
His chosen successor, Greg Abel, replaced him as CEO at the start of this year. Abel is set to continue a decadeslong Buffett tradition when he publishes his first letter to Berkshire shareholders later this month.
Buffett, a value investor, struggled to find bargain stocks and businesses to buy during his last few years in charge.
Ahead of Berkshire’s fourth-quarter earnings, he and his team have been net sellers of stocks for 12 straight quarters, refrained from buying back shares for five quarters in a row, and have built Berkshire’s cash pile to a record high of over $350 billion.