Apple, NYT, Chevron: what Berkshire bought and sold in Buffett's last quarter

Berkshire Hathaway increased its stake in U.S. oil company Chevron and Swiss insurance company Chubb in the last quarter under Warren Buffett's leadership, and for the first time acquired a stake in The New York Times newspaper. This follows from a Form 13-F published on the website of the U.S. Securities and Exchange Commission.

Berkshire Hathaway acquired a stake in The New York Times in the fourth quarter of 2025 in the amount of almost 5.07 million shares with a total value of $351.66 million (as of December 31). Prior to that, the newspaper's shares were not in Berkshire's portfolio. At the end of last quarter, they accounted for 0.13% of Berkshire's total assets. NYT shares were up 3.6% in extended trading on February 17 after the end of the main session.

Also Berkshire strengthened its bet on the energy sector, increasing its position in Chevron by 6.63%, having bought 8.09 mln securities. At the end of the quarter, securities of the oil company accounted for 7.24% of Berkshire's portfolio (before it was 7.09%) and were valued at $19.8 billion. Shares of Chevron practically did not show any dynamics on the postmarket on Tuesday.

The Fund increased its investments in the insurance business in the fourth quarter. Thus, the stake in Chubb Limited was increased by 9.3%: Berkshire acquired an additional 2.92 million shares. The total value of the stake reached $10.69 billion by December 31, which corresponds to 3.9% of the portfolio. Chubb's shares appreciated by more than 1% in the post-market.

The stake in Domino's Pizza chain grew the strongest during the quarter : it added 12.34% or 368,000 shares. The value of the entire stake eventually amounted to about $1.4 billion (0.51% of the portfolio). Domino's securities added about 1% in the evening trading on February 17.

While building up stakes in the insurance and energy sectors, Berkshire continued to reduce its positions in the financial and technology sectors.

The Buffett-led company sold 77% of its shares in Amazon, the largest marketplace in the world. Berkshire got rid of 7.72 million securities, and the share of Amazon in its portfolio by the end of the quarter fell from 0.82% to 0.19%. Berkshire owned nearly 2.28 million shares worth $525.35 million as of Dec. 31. Berkshire first acquired a stake in Amazon in 2019, Bloomberg recalls. At the time, Buffett said that despite his distaste for tech stocks, he was "an idiot for not buying" the online retailer's securities sooner. Amazon shares showed little to no momentum in the Feb. 17 postmarket. The main trades ended with the growth of 1.91%: the securities thus ended the longest series of declines since 2006, during which Amazon's capitalization fell by 18% or $450 billion.

Berkshire also once again reduced its stake in Apple. The stake shrank another 4.3% in the fourth quarter of 2025, corresponding to the sale of about 10.29 million securities. But Apple remained the holding company's largest asset, with 22.6% of its entire portfolio, which were worth $61.96 billion as of Dec. 31. Apple shares were up about 0.5% in extended trading Tuesday.

Berkshire also continued to systematically sell Bank of America shares, selling almost 9% or 50.77 million securities. Despite the reduction, the bank remained one of the largest positions in Berkshire's portfolio by the end of the quarter - 10.38% worth $28.45 billion. BofA shares were virtually unchanged in price at the postmarket.

Buffett's company reduced its stake in Constellation Brands, one of the largest alcoholic beverage makers in the U.S., which owns the Corona and Modelo brands in the U.S. market. The position was reduced by 3%; the stake in Berkshire's portfolio fell to 0.65% by Dec. 31. Constellation Brands shares were down 0.5% in extended trading on Tuesday.

Berkshire also reduced its ownership of securities of insurance broker and risk management consultant Aon - by 12%, distributor of equipment and supplies for swimming pools Pool - by 11.3%, telecommunications operator of Latin America and the Caribbean LibertyLatin America - by 8.9%. In addition, Buffett's fund sold almost half (48.3%) of the shares of the Atlanta Braves baseball club.

Large investors in the United States, which includes Berkshire Hathaway, are required to disclose their equity investments for each quarter. They have 45 days from the end of the quarter to file with the Securities and Exchange Commission. Because of this, by the time of disclosure, the data in the reports may already be out of date, The Wall Street Journal noted. Berkshire's reports do not specify who made the decision on the deal - Buffett himself, his successor Greg Abel or other portfolio managers. Barron's wrote that as CEO, Buffett managed about 90% of Berkshire's equity portfolio.

But the fourth quarter of 2025 became the last for Warren Buffett at the head of Berkshire Hathaway. On January 1, the company was officially headed by Greg Abel, who previously oversaw the holding company's non-insurance assets. Buffett announced his departure in advance and emphasized that he would continue to remain in the company in the role of chairman of the board of directors. However, he will no longer publish his annual letters to shareholders, which he has been writing for decades and which have become a kind of benchmark for investors around the world.

This article was AI-translated and verified by a human editor