Berkshire Trims Apple, Buys New York Times in Q4

Buffett's firm also saw net stock sales and continued portfolio shifts in the final quarter before leadership changes.

Published on Feb. 21, 2026

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Berkshire Hathaway's Q4 13F filing reveals that the company trimmed its massive Apple stake, bought a new position in The New York Times, and continued to be a net seller of publicly traded stocks during the quarter. The report provides insights into Berkshire's evolving portfolio strategy as the firm prepares for leadership changes, with Warren Buffett ceding the CEO role to Greg Abel and Todd Combs departing.

Why it matters

Berkshire's quarterly 13F filings offer a window into the investment decisions of Buffett and his team, providing clues about their market outlook and portfolio positioning. The changes in Q4, including the New York Times purchase and continued Apple trimming, suggest Berkshire is adapting its strategy as it navigates a challenging environment for traditional media and a potential tech stock downturn.

The details

Berkshire reduced its Apple stake for the third straight quarter, though the tech giant remains its largest holding. The firm also added a new position in The New York Times, which Buffett has previously said has a strong enough digital model to offset print declines. Berkshire was a net seller of stocks overall in Q4, continuing a trend seen throughout 2025. The portfolio remains heavily concentrated, with the top 5 holdings accounting for over 70% of assets.

  • Berkshire filed its Q4 2025 13F after the market close on February 17, 2026.
  • Berkshire is set to release its Q4 2025 earnings report and Greg Abel's annual letter on February 28, 2026.

The players

Berkshire Hathaway

A multinational conglomerate holding company headquartered in Omaha, Nebraska, led by Warren Buffett and Greg Abel.

Warren Buffett

The chairman and CEO of Berkshire Hathaway, known as the "Oracle of Omaha" for his successful value investing approach.

Greg Abel

The vice chairman of Berkshire Hathaway, who will be taking over as CEO from Buffett in 2026.

Todd Combs

An investment manager at Berkshire Hathaway who is departing the firm for a role at JPMorgan Chase.

The New York Times

A major American newspaper and media company that Berkshire has newly invested in, bucking its previous exit from the newspaper business.

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What they’re saying

“The current environment is accentuating the problem in newspapers, but it's not the basic cause. Charlie and I read five a day. We'll never give them up. But we would not buy these companies at any price. They have the possibility of going to unending losses. They were essential to the public 20 years ago. Their pricing power was based on the fact that they were essential to the customer. They lost that essential nature. The erosion has accelerated dramatically.”

— Warren Buffett (2009 Berkshire Hathaway Annual Meeting)

“Only the Wall Street Journal, New York Times, and perhaps the Washington Post had digital models strong enough to offset declining print circulation and advertising revenue.”

— Warren Buffett (2018 Berkshire Hathaway Annual Meeting)

What’s next

Berkshire's Q4 earnings report and Greg Abel's annual letter, which will provide more details on the firm's overall portfolio and operations, are set to be released on February 28, 2026.

The takeaway

Berkshire's Q4 moves, including trimming its Apple stake and buying The New York Times, suggest the firm is adapting its strategy as it navigates challenges in the tech and media sectors. The changes also come as Berkshire prepares for leadership transitions, with Buffett handing the CEO role to Abel and Combs departing.