Berkshire Hathaway Trims Apple Stake, Initiates New Position in The New York Times

Warren Buffett’s Berkshire Hathaway significantly adjusted its investment portfolio in the fourth quarter, notably reducing its substantial stake in Apple while initiating a new, albeit smaller, position in The New York Times. This strategic maneuver, revealed in a recent securities filing, provides a glimpse into the evolving investment philosophy of the venerable conglomerate as it navigates a changing market landscape and transitions in leadership.

According to data compiled by InsiderScore, Berkshire Hathaway pared its holdings in the tech giant Apple by 4.3%, bringing the total value of its Apple stake down to $61.96 billion. Despite this reduction, Apple continues to hold its position as Berkshire’s largest equity holding by a considerable margin. This latest adjustment follows a pattern of strategic trimming, as Berkshire had previously reduced its Apple holdings in the second quarter of the preceding year and had, in 2024, slashed its stake by an even more substantial two-thirds.

The decision to reduce the Apple stake, even as the company posted its third consecutive year of gains in 2025, rising approximately 9%, comes as Apple’s performance has lagged behind the broader market. The S&P 500, for instance, saw a more robust gain of over 16% last year. The trend has continued into the current year, with Apple’s stock experiencing a decline of about 3% year-to-date. The tech giant recently endured its worst single-day performance since April 2025, underscoring a period of increased volatility for the stock.

While the exact motivations behind these specific portfolio adjustments remain subject to interpretation, Berkshire’s long-standing approach to Apple provides context. Buffett has historically viewed Apple not as a pure technology company, but rather as a consumer products powerhouse. The recent moves could potentially signal an effort to make the portfolio more manageable, particularly in anticipation of future leadership transitions. It is also not definitively clear whether these particular trading decisions were executed directly by Warren Buffett himself or by his trusted investment managers, Todd Combs and Ted Weschler.

In addition to the reduction in its Apple holdings, Berkshire Hathaway also disclosed a new, relatively modest investment in The New York Times, establishing a position valued at approximately $351.7 million. This new stake ranks as the 29th largest among Berkshire’s 41 total equity positions, indicating a more speculative or opportunistic entry rather than a core strategic allocation.

This fourth quarter marks a significant milestone for Berkshire Hathaway, representing the final quarterly reporting period with Warren Buffett at the helm as CEO. As of the beginning of the new year, Greg Abel, who previously held the position of vice chairman of non-insurance operations, assumed the role of CEO. Buffett, however, continues to serve as the Chairman of the Board.

The transition in leadership has been accompanied by structural changes within the company. Notably, Todd Combs, a key investment lieutenant for Buffett and former CEO of Geico, departed Berkshire Hathaway in December. Following his resignation, Combs joined JPMorgan Chase in January, taking on the leadership of its newly established Security and Resiliency Initiative.

Buffett had publicly announced his intention to step down as CEO at Berkshire’s annual meeting in May of the previous year, stating his recommendation to the board for Greg Abel to succeed him at the end of the year. This strategic succession plan ensures a continued focus on the long-term stability and growth of the Berkshire Hathaway empire.

Berkshire Hathaway’s Top 10 Holdings as of the end of Q4: