Quick Read Warren Buffett’s final major investment was The New York Times (NYT) before Berkshire Hathaway (BRK-A) transitioned to Greg Abel. Berkshire’s newest 13F also shows continuing sales of Apple (AAPL) and a major reduction in Amazon (AMZN) ownership. The New York Times grew to 12.8 million digital subscribers and increased net income 243% to $344M since 2020. Berkshire holds record $381.6B in cash and recently increased its Alphabet stake by $4B in Q3 2025. A recent study identified one sing ...

Next up, the New York Times. Those shares were edging higher after Bergkshire Hathaway disclosed a new $350 million investment in the company. This was made during Warren Buffett's last quarter as CEO of Bergkshire.And it comes six years after Buffett sold all sold off all of Berkshire stake in newspapers, calling the industry quote toast. Bergkshire Hathway also trimmed its stake in Apple and revealed a new position in Alphabet. ...

Core Viewpoint - Warren Buffett's Berkshire Hathaway made a notable investment in The New York Times, acquiring approximately 5.1 million shares valued at $352 million, marking a significant return to the newspaper industry after previously divesting its newspaper holdings [1][12]. Company Summary - The New York Times has shown a recovery in recent years, with revenues increasing by 9% to $2.8 billion and net income rising by 17% to $344 million, driven by a 9% rise in subscription revenues and a 12% increase in advertising revenues [12]. - The publisher added 1.4 million digital-only subscribers, bringing its total subscriber count to 12.78 million as of December 31 [13]. - The stock price of The New York Times has surged approximately 15-fold since its low in early 2009, reaching a record high of $74, with a 50% increase in the past year [13][14]. Industry Summary - Warren Buffett has expressed concerns about the newspaper industry's viability, noting a significant decline in circulation and advertising revenues over the years [6][11]. - Despite these concerns, Buffett previously stated that newspapers delivering reliable information to local communities would remain viable, indicating a belief in the potential for certain newspapers to succeed [10]. - The newspaper industry has faced a transformation, with many traditional titles struggling, leading Buffett to predict that only a few national titles would survive in the long term [11].

Core Insights - Berkshire Hathaway initiated a 3% stake in The New York Times during Q4, valued at over $350 million, which is approximately 0.1% of Berkshire's overall portfolio [2][3]. Financial Performance - The New York Times reported a 10.4% year-over-year increase in total revenue, reaching $802 million [6]. - Digital-only subscription revenue rose by 13.9% year-over-year, while digital advertising revenue increased by 24.9% [6]. - Adjusted earnings per share grew by 11.2% year-over-year to $0.89 [6]. Future Guidance - For Q1 2026, The New York Times expects digital-only subscription revenue to grow by 14% to 17% year-over-year and digital advertising revenue to increase in the high teens to low twenties [7]. - Management anticipates total advertising revenue to grow at a low double-digit rate year-over-year [7]. Strategic Focus - The New York Times is emphasizing video as a key area for strategic investment, aiming to enhance its presence in video journalism [10]. - The company's reputation as a trusted source may serve as a long-term catalyst, especially as AI-generated content becomes more prevalent [8][9]. Stock Valuation - The New York Times has a market capitalization of over $12 billion, with shares trading at about 35 times earnings and 28 times analysts' consensus forecast for the next 12 months [11][12]. - The stock has increased more than 35% from lower trading levels in Q4, suggesting that the entry point for new investors may not be optimal at this time [11][12].

Market Overview - US stock futures showed gains, indicating a reduction in AI-related fears among investors, with S&P 500 futures up by 0.5%, Nasdaq 100 futures up by 0.6%, and Dow Jones Industrial Average futures up by 0.4% [1] - Technology stocks are beginning to recover after a challenging period, particularly for software companies, as investors consider the long-term implications of AI on business models and competition [2] Federal Reserve Insights - Attention is focused on the Federal Reserve's January meeting minutes for insights into economic outlook and interest rate decisions, with expectations of three rate cuts while markets anticipate at least two reductions this year [3] Corporate Earnings - Earnings reports from DoorDash, eBay, and Analog Devices are scheduled for release, which may influence market sentiment [3] Company-Specific Developments - CH Robinson faced a significant stock sell-off due to AI market dynamics, despite the company's strong fundamentals and its proactive use of AI to reduce costs [6] - Berkshire Hathaway made a multibillion-dollar investment in The New York Times, signaling confidence in the publisher's strategy, while divesting from other newspaper holdings [8] - Palo Alto Networks stock fell by 7% after cutting its full-year earnings outlook, while Western Digital's stock rose by 2% following its announcement to raise $3.17 billion by selling its stake in Sandisk [10] - SSR Mining reported a 7% increase in stock value after announcing higher fourth-quarter adjusted earnings and a projected 10% increase in gold-equivalent production [11] - Nvidia's stock rose as it announced a partnership with Meta for the purchase of millions of AI chips, enhancing their collaboration [12] International Developments - Japan plans to invest up to $36 billion in US oil, gas, and critical mineral projects as part of a broader $550 billion trade agreement, aimed at strengthening supply chains [14]

OMAHA, Neb. (AP) — Six years after Warren Buffett sold off all of Berkshire Hathaway's newspapers and predicted unending declines for most of the industry, Berkshire disclosed a new $350 million investment in The New York Times on Tuesday. The somewhat surprising move highlighted the quarterly update Berkshire filed with the Securities and Exchange Commission about the company's stock holdings in Buffett's last quarter as CEO. Berkshire also increased its investment in Chevron just before President Donald ...

Berkshire Hathaway disclosed on Tuesday a new investment in the New York Times, marking its reentry into a sector it abandoned in 2020 when it sold its newspaper business.In a filing with the Securities and Exchange Commission, Berkshire said it owned about 5.07 million Times shares worth $351.7 million at the end of 2025.Berkshire’s filing contained the Omaha, Neb.-based conglomerate’s US-listed stock holdings as of Dec. 31, which comprise most of its equity portfolio.The fourth quarter was the final quart ...

Berkshire's fresh bet on the publisher of the New York Times marks a return to newspapers for the conglomerate after exiting the business six years ago. ...

Group 1 - Berkshire Hathaway acquired approximately 5.1 million shares of The New York Times Company, valued at about $352 million at the end of December 2025 [1] - The company reduced its stakes in Apple and Bank of America by about 4% and 9% respectively, and sold 77% of its Amazon stake, decreasing its value from $2.2 billion to $525 million [2] - Berkshire added to its holdings in Chubb and Chevron while selling down Aon, and its Alphabet stake increased in value from around $4.3 billion to $5.6 billion due to a surge in Google's parent company shares [3] Group 2 - Warren Buffett, who transformed Berkshire from a failing textile mill into a $1 trillion conglomerate, stepped down as CEO, with Greg Abel taking over [5][6] - Under Buffett's leadership, the company has been net sellers of stocks for 12 consecutive quarters and has not repurchased shares for five quarters, resulting in a cash reserve exceeding $350 billion [7]

Core Insights - Berkshire Hathaway disclosed a new position in New York Times Co with 5,065,744 shares in the fourth quarter ending December 31, 2025 [1] - The company clarified its positions within the Liberty Media ecosystem, maintaining its stake in Liberty Formula One with 3,018,555 shares [1] Portfolio Changes - The fourth quarter 13F filing revealed changes in existing stocks, highlighting the top decreased stakes by percentage [2] - Despite a decrease in the Apple position, it remains the largest holding in Berkshire Hathaway's investment portfolio [2]