Berkshire Hathaway Buys $350 Million Stake in The New York Times in Q4 2025

Berkshire Hathaway made a $350 million investment in The New York Times. This is a big change after they sold their own newspapers in 2020.
By Newsroom | Business, Finance |

A Major Shift in Investment Strategy Revealed

In Warren Buffett's last reported quarter as Chief Executive Officer of Berkshire Hathaway, the company made a notable investment, acquiring a substantial stake in The New York Times Company. This move, valued at over $350 million, occurred as Berkshire also adjusted holdings in other major companies like Chevron, Apple, and Bank of America. The timing of this investment is significant, occurring six years after Berkshire Hathaway divested its own portfolio of newspapers. The disclosure came via a Securities and Exchange Commission (SEC) filing detailing Berkshire's stock holdings in the fourth quarter of 2025.

Context of the Investment

The investment in The New York Times by Berkshire Hathaway is framed within a period of portfolio adjustments by the company.

BUFFETT'S LAST BIG BET: NEW YORK TIMES... - 1

  • The New York Times Investment: Berkshire Hathaway took a new, substantial position in The New York Times Company, valued at more than $350 million. This represents a return to the media sector for Berkshire, which previously owned numerous newspapers before selling them in 2020.

  • Divestment from Newspapers: In 2020, Berkshire Hathaway sold its portfolio of newspapers, including Buffett's hometown paper, the Omaha World-Herald, to Lee Enterprises. This marked a significant exit from direct newspaper ownership.

  • Other Portfolio Changes: Alongside the New York Times investment, Berkshire Hathaway also increased its stake in Chevron. Concurrently, the company reduced its holdings in Apple and Bank of America.

  • Buffett's Departure: The disclosures were made during Buffett's final quarter as CEO. He transitioned from this role, with Abel being chosen to replace him. Buffett remains Chairman of the Board.

Evidence of Portfolio Adjustments

The SEC filings provide specific details about Berkshire Hathaway's stock transactions during the fourth quarter of 2025.

  • New York Times Stake: Berkshire Hathaway established a new position in The New York Times Company, valued at over $350 million. Following this disclosure, The New York Times' stock saw an increase of more than 10% in post-market trading.

  • Chevron Investment: Berkshire Hathaway increased its investment in Chevron. This increase occurred shortly before President Donald Trump ordered the arrest of Venezuela's president.

  • Apple Holdings: Berkshire Hathaway sold approximately 10 million shares of Apple.

  • Bank of America Holdings: The company sold roughly 50 million shares of Bank of America, though it still holds nearly 81 million shares. Berkshire first began buying Bank of America shares in 2011 during the bank's struggles with the subprime mortgage crisis.

  • Amazon Holdings: Berkshire Hathaway also significantly reduced its stake in Amazon.

The New York Times: A Strategic Re-entry?

Berkshire Hathaway's investment in The New York Times marks a significant re-engagement with the media industry, a sector Buffett previously exited.

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BUFFETT'S LAST BIG BET: NEW YORK TIMES... - 2

  • Historical Context: Berkshire Hathaway's past ownership of numerous newspapers, followed by their sale in 2020, makes the new investment noteworthy. This history includes Buffett's own childhood connection to newspaper delivery.

  • Current Business Performance: Reports suggest The New York Times Company exhibits strong business momentum, which may have attracted Berkshire's attention. Its stock price reached an all-time high following the disclosure.

  • Uncertainty on Decision-Maker: The SEC filings do not explicitly state whether Warren Buffett personally directed every investment decision or if other Berkshire investment managers were responsible for these specific moves.

Chevron and Oil Sector Exposure

The increased investment in Chevron occurred in close proximity to geopolitical events in Venezuela.

  • Geopolitical Timing: The investment increase in Chevron happened just before President Donald Trump ordered the arrest of Venezuela’s president. This was followed by a significant rise in Chevron's stock.

  • Long-Term Strategy: Buffett has historically expressed a positive outlook on the oil business, and Berkshire has been a substantial investor in Chevron and Occidental Petroleum for several years.

  • Market Performance: Chevron's stock had risen nearly 19% since the start of 2026 prior to these events.

Shifting Away from Tech and Banking Giants

The portfolio adjustments also indicate a reduction in holdings within major technology and financial institutions.

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  • Apple Divestment: The reduction in Apple shares occurred during the same quarter Berkshire initiated its New York Times position.

  • Bank of America Reduction: The significant sale of Bank of America shares continues a trend of trimming this long-held investment. The initial purchase in 2011 coincided with the bank's difficulties during the subprime mortgage crisis.

  • Amazon Cut: A sharp reduction in Berkshire's exposure to Amazon was also a prominent move in this period.

Expert Insights on Buffett's Final Moves

Analysts have offered perspectives on the significance of these investment decisions during Buffett's final quarter as CEO.

  • Symbolic Investment: Some view the New York Times investment as a fitting, albeit surprising, final move for the Buffett era, given his history with the newspaper industry.

  • Managerial Autonomy: The fact that the specific decisions might have been made by Berkshire's other investment managers highlights the evolving structure of the company's investment process.

  • Strategic Diversification: The moves reflect a potential strategy to diversify holdings, reducing exposure to sectors experiencing different market pressures while increasing investment in others.

Conclusion and Implications

Warren Buffett's final reported quarter as CEO of Berkshire Hathaway was marked by a significant and somewhat unexpected investment in The New York Times Company. This substantial acquisition, valued at over $350 million, occurred alongside adjustments to major holdings, including increased investment in Chevron and reduced stakes in Apple, Amazon, and Bank of America.

BUFFETT'S LAST BIG BET: NEW YORK TIMES... - 4

The re-entry into the media sector, specifically via The New York Times, is notable given Berkshire's divestment of its own newspaper assets in 2020. While the exact decision-maker for each specific transaction remains unconfirmed in the public filings, the overall portfolio reshuffling reflects a dynamic strategy. The increased investment in Chevron also aligns with Buffett's long-standing views on the energy sector, occurring around a period of heightened geopolitical tension in Venezuela.

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The long-term implications of these moves, particularly the investment in The New York Times, will be observed as Berkshire Hathaway continues its operations under new leadership. The disclosure of these transactions provides a window into the investment philosophy and strategic shifts occurring at one of the world's largest conglomerates as it transitions leadership.

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Frequently Asked Questions

Q: Why did Berkshire Hathaway invest $350 million in The New York Times in late 2025?
Berkshire Hathaway bought a large stake in The New York Times Company, worth over $350 million. This happened during Warren Buffett's last quarter as CEO and was revealed in a filing in early 2026.
Q: What does this investment mean for Berkshire Hathaway's past newspaper sales?
This is a notable change because Berkshire Hathaway sold all of its own newspapers to Lee Enterprises in 2020. This new investment shows a return to the media business for the company.
Q: What other changes did Berkshire Hathaway make to its investments in late 2025?
Besides buying The New York Times, Berkshire Hathaway also bought more Chevron stock and sold some shares of Apple, Bank of America, and Amazon. These moves were part of a wider shift in their investment portfolio.
Q: Did Warren Buffett personally make these investment decisions?
The filings do not say for sure if Warren Buffett made every decision. It is possible that other investment managers at Berkshire Hathaway made some of these choices, especially as Buffett was stepping down as CEO.
Q: How did The New York Times stock react to this investment?
After the news came out, The New York Times Company's stock price went up by more than 10% in after-hours trading. The stock also reached an all-time high, showing investor confidence.