2026년 2월 18일 · Unknown · financial · 출처 Yahoo Finance
Berkshire Hathaway (NYSE:BRKa) released its 13F for the quarter ended December 31, 2025, after the close of trading on Tuesday, offering a revealing look at how the firm is positioning its massive equity portfolio at a historic transition. With Warren Buffett officially retiring as chief executive officer on December 31, 2025, at age ninety-five, the filing carries added weight. It marks the last of the Buffett era and the first under successor Greg Abel, who assumed day-to-day leadership.
The changes are notable but not radical. They reinforce the idea that Berkshire’s investing culture remains intact even as leadership evolves.
A New Media Bet Emerges
The most eye-catching move in the filing is a brand new position in the New York Times Company (NYSE:NYT). Berkshire disclosed ownership of 5,065,744 shares, marking its first known investment in the storied news organization.
The purchase is striking given Buffett’s long-standing appreciation for durable brands, pricing power, and trusted institutions. The New York Times has successfully transitioned from a traditional newspaper into a global digital subscription business with recurring revenue and strong reader loyalty. The stake suggests Berkshire sees enduring value in high-quality journalism as misinformation grows and credible sources become scarcer.
Energy Conviction Grows
Berkshire also meaningfully increased its commitment to Chevron Corp (NYSE:CVX). The firm raised its stake from 122,064,792 shares to 130,156,362 shares, reinforcing its bullish stance on integrated energy producers.
The move reflects confidence in Chevron’s balance sheet discipline, shareholder returns, and ability to generate cash across commodity cycles. It also aligns with Berkshire’s broader preference for companies that can thrive amid inflationary pressures and geopolitical uncertainty.
Tech Exposure Gets Trimmed
On the other side of the ledger, Berkshire reduced several high-profile holdings.
Its position in Amazon.com Inc (NASDAQ:AMZN) was sharply lowered from 10,000,000 shares to 2,276,000 shares. While Amazon remains a dominant force in ecommerce and cloud computing, the reduction suggests profit taking or a reassessment of risk relative to valuation.
The firm also continued to trim its massive holding in Apple Inc (NASDAQ:AAPL) from 238,212,764 shares to 227,917,808 shares. Even after the reduction, Apple remains Berkshire’s largest equity investment by far, underscoring continued conviction in the company’s ecosystem, brand loyalty, and cash generation.
Another notable reduction came in Bank of America Corp (NYSE:BAC). The stake fell from 568,070,012 shares to 517,295,934 shares. The move may reflect a desire to rebalance financial exposure after years of strong gains rather than a fundamental loss of confidence.
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Core Holdings Stay Rock Solid
Despite the changes, Berkshire left several cornerstone positions untouched.
The firm maintained its 17,846,142 share stake in Alphabet Inc., reaffirming belief in the long term dominance of Google’s search, AI and advertising businesses.
It also held steady with 151,610,700 shares of American Express Company, a Buffett favorite known for its premium customer base and resilient economics.
Perhaps most symbolically, Berkshire kept its 400,000,000 share stake in The Coca Cola Company unchanged. The position remains one of the clearest expressions of Buffett’s enduring investment philosophy centered on simple businesses with powerful brands and global reach.
Continuity in a Moment of Change
While Warren Buffett’s retirement as chief executive marks the end of a sixty-year leadership era, this 13F filing makes one thing clear. Berkshire Hathaway is not reinventing itself. The portfolio reflects careful adjustments rather than sweeping changes, and a continued focus on quality, durability, and long term value.
With Greg Abel stepping into the chief executive role and Buffett staying on as chairman, the message to investors is steady and reassuring. The steward may change, but the playbook remains very much the same.
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