NextFin News - In a regulatory disclosure that has sent ripples through global capital markets, Berkshire Hathaway has unveiled a significant restructuring of its multi-billion dollar portfolio. According to the firm’s Q4 2025 13F filing released on February 20, 2026, the Omaha-based conglomerate initiated a new position in the New York Times Company while simultaneously executing aggressive liquidations of its long-standing stakes in technology giants Apple and Amazon, as well as financial heavyweight Bank of America.
The filing reveals that Berkshire Hathaway acquired 5,065,744 shares of the New York Times, a position valued at approximately $351.663 million. This move contrasts sharply with the firm’s divestment strategy elsewhere. Most notably, the conglomerate reduced its Amazon holdings by a staggering 77%, selling 7,724,000 shares for roughly $1.78 billion. The retreat from tech was further underscored by a 75% cut in its Apple stake, though the iPhone maker remains Berkshire’s largest single holding. In the banking sector, the firm unloaded over 50 million shares of Bank of America, representing a $2.79 billion divestment. These maneuvers occurred during the final quarter of 2025, serving as a definitive closing chapter for the firm’s investment strategy as it enters 2026.
The pivot toward the New York Times is particularly striking given the broader market context. According to Morningstar, the media company’s shares surged 35% in 2025, driven by a robust digital subscription model and a 21% rise in stock value during the fourth quarter alone. By securing this stake, Berkshire Hathaway has become one of the publisher’s top institutional shareholders, trailing only major asset managers like Vanguard and BlackRock. This investment suggests a high degree of confidence in the "moat" provided by legacy media brands that have successfully navigated the transition to digital-first revenue streams.
From an analytical perspective, the massive reduction in Apple and Amazon exposure indicates a fundamental reassessment of the technology sector’s risk-reward profile. For years, Apple served as the cornerstone of Berkshire’s equity strategy, at one point accounting for nearly half of its public portfolio. However, the decision to trim this position by 75% suggests that the firm’s leadership views current price-to-earnings ratios as unsustainable in an environment characterized by shifting trade policies under U.S. President Trump. The reduction in Amazon, a company Berkshire only began accumulating in 2019, further reinforces a defensive rotation away from high-growth, high-valuation multiples toward more traditional value plays.
The divestment from Bank of America is equally telling. According to analysis by Morningstar senior analyst Gregg Warren, Berkshire has been a persistent seller of the bank since July 2024. The liquidation of $2.79 billion in the most recent quarter suggests a cooling sentiment toward the banking sector, potentially due to concerns over net interest margin compression or regulatory shifts. By contrast, the firm’s continued accumulation of shares in Chevron and Chubb indicates a preference for "hard assets" and insurance-based cash flows, which historically perform better during periods of economic volatility or inflationary pressure.
Looking ahead, Berkshire Hathaway’s portfolio adjustments suggest a "barbell" strategy for 2026: maintaining a massive cash pile while cherry-picking undervalued brand assets like the New York Times and Domino’s Pizza. The firm now owns nearly 10% of Domino’s, a move that aligns with its historical preference for consumer monopolies with high capital efficiency. As U.S. President Trump’s administration continues to implement new fiscal and tariff policies, Berkshire’s retreat from tech-heavy indices may prove prescient. The firm appears to be positioning itself for a market where brand loyalty and subscription-based recurring revenue are valued more highly than the speculative growth of the previous decade.
Ultimately, this 13F filing marks more than just a series of trades; it represents a generational shift in the firm’s outlook. By reducing its reliance on the "Magnificent Seven" and returning to its roots in media and consumer staples, Berkshire Hathaway is signaling to the market that the era of tech-driven outperformance may be yielding to a more fragmented, value-oriented cycle. Investors should expect the firm to remain a net seller of equities in the coming months, further bolstering its record cash reserves to capitalize on potential market dislocations later in 2026.
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