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Berkshire Hathaway Adjusts Apple Stake, Initiates New Position in The New York Times
Warren Buffett’s Berkshire Hathaway has significantly trimmed its stake in Apple, reducing its holdings by 4.3% to $61.96 billion in the fourth quarter. Despite this reduction, Apple continues to be Berkshire’s largest equity holding by a considerable margin. Concurrently, the conglomerate has established a new position in The New York Times, according to a recent securities filing.
This latest adjustment to the Apple holding follows a series of reductions. Berkshire had previously trimmed its Apple stake in the third quarter of the year and had significantly reduced its holdings by two-thirds in 2024. While Apple has experienced a positive trajectory for three consecutive years, its performance in 2025, with a roughly 9% gain, still lagged behind the S&P 500, which saw a more substantial increase of over 16%. The stock’s underperformance has continued into the current year, with a notable decline of approximately 3% and its worst trading day since April 2025 occurring just last week, reportedly in connection with an FTC lawsuit concerning Siri.
The rationale behind these strategic shifts in the Apple holdings is not definitively attributed to Buffett himself. It is suggested that these decisions may have been made by investment managers Todd Combs and Ted Weschler. Buffett has historically viewed Apple not purely as a technology company but more as a consumer products entity. These adjustments could potentially be part of a broader strategy to streamline the portfolio in preparation for his eventual successor.
In addition to the changes within its largest holding, Berkshire Hathaway has also initiated a new investment in The New York Times, acquiring a stake valued at $351.7 million. This new position ranks 29th among Berkshire’s 41 total equity holdings.
The fourth quarter represented a significant transition for Berkshire Hathaway, marking the final period under Warren Buffett’s leadership as CEO. As of the new year, Greg Abel, who previously held the position of vice chairman of non-insurance operations, has assumed the role of CEO. This leadership transition was anticipated, with Buffett announcing his intention to ask the Berkshire board to appoint Abel as his successor at the company’s annual meeting in May. While Buffett has stepped down as CEO, he continues to serve as the chairman of the board.
Prior to Buffett’s departure from the CEO role, the company had also undergone structural changes. One notable change involved Todd Combs, who had served as an investment lieutenant to Buffett and as CEO of Geico. Combs resigned from Berkshire Hathaway in December and subsequently joined JPMorgan Chase in January, where he is leading a new Security and Resiliency Initiative.
Berkshire Hathaway’s Top 10 Holdings as of the end of Q4 are as follows:
| TICKER | NAME | VALUE ($ BILLION) | CHANGE IN NO. OF SHARES (%) |
|---|---|---|---|
| AAPL | Apple | 61.96 | -4.3 |
| AXP | American Express | 56.09 | N/A |
| BAC | Bank of America | 28.45 | -8.9 |
| KO | Coca-Cola | 27.96 | N/A |
| CVX | Chevron | 19.84 | 6.6 |
| MCO | Moody’s | 12.6 | N/A |
| OXY | Occidental Petroleum | 10.89 | N/A |
| CB | Chubb | 10.69 | 9.3 |
| KHC | Kraft Heinz | 7.9 | N/A |
| GOOGL | Alphabet | 5.59 | N/A |
The report also indicates that Berkshire Hathaway had initiated a stake in Alphabet, another prominent technology company, during the third quarter. This move, alongside the adjustments to the Apple position, suggests a strategic rebalancing of the conglomerate’s technology and growth-oriented investments. The specific details of the Alphabet stake, including its size and any subsequent changes in the fourth quarter, were not elaborated upon in the provided text beyond its inclusion in the top 10 holdings list.
