Berkshire Hathaway Market Brief: Q4 2025 – Feb 2026 Berkshire Hathaway has marked a strategic return to the media sector by acquiring **5.07 million shares** in **The New York Times (NYT)**. This investment, valued at approximately **$352 million** as of the latest regulatory filings, represents a significant reversal from Warren Buffett’s 2020 exit from the newspaper industry. The disclosure on **February 17, 2026**, sent NYT shares climbing more than **3%** in after-hours trading. The publisher recently reported strong momentum, hitting an all-time high of **$74.23** and boasting over **12 million** digital subscribers, fueled by its diversified digital strategy including games and sports. Leadership Transition This quarterly update arrives at a historic pivot point for the conglomerate. **Greg Abel** officially succeeded Warren Buffett as Chief Executive Officer on **January 1, 2026**. While Buffett remains Chairman of the Board, Abel now holds day-to-day leadership of the **$1.1 trillion** enterprise. The transition has been accompanied by a broader leadership overhaul, including the departure of portfolio manager Todd Combs to JPMorgan Chase and the appointment of new lieutenants to oversee Berkshire’s **32** core operating businesses. Portfolio Rebalancing and Tech Adjustments In the final months of 2025, Berkshire continued to aggressively rebalance its massive equity portfolio. The conglomerate trimmed its stake in **Apple** for the third consecutive quarter, selling roughly **10.3 million** shares. Despite a **4.3%** reduction in position size, Apple remains Berkshire’s largest holding, valued at approximately **$62 billion**. The firm also executed a substantial exit from **Amazon**, slashing its position by **77%**. The holding was reduced from roughly **$2.2 billion** to **$525 million**. This move follows a year where Amazon underperformed the broader market, dropping **11%** while the S&P 500 rose. Banking and Energy Shifts The financial sector saw a notable reduction as well, with Berkshire selling **50.8 million** shares of **Bank of America**. This **8.9%** cut reflects a long-term trend, as the firm has halved its stake in the bank over the past **18 months**, reducing it from over **1 billion** shares to approximately **517 million**. Conversely, Berkshire increased its exposure to the energy sector. The firm added **8 million** shares of **Chevron**, bringing its total to more than **130 million** shares. Chevron’s stock has surged nearly **19%** since the start of **2026**, driven by geopolitical shifts and its unique operational position in South American oil markets. Future Outlook Investors are now looking toward **February 28, 2026**, when Berkshire will release its full-year financial results. This will feature Greg Abel’s first annual letter to shareholders, a document expected to clarify the firm’s strategy for its **$300 billion** cash reserve and the future of its decentralized operating model.