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Berkshire Hathaway invests in The New York Times, cuts stakes in Amazon and Apple

The latest SEC filing shows the company’s first media buy since 2020.

Hyunsoo Rim, David Crowther

As Warren Buffett wrapped up his 60-year run as CEO of Berkshire Hathaway at the end of last year, the Omaha-based conglomerate made some bets in an industry it hadn’t touched in six years, according to its latest 13F filing, disclosed Tuesday.

In the fourth quarter of 2025, Berkshire Hathaway bought 5.1 million shares (worth $351.7 million) of The New York Times — a legacy newspaper that’s arguably transformed itself for the digital age better than any other, becoming a games-cooking-news powerhouse that now boasts nearly 13 million subscribers.

The move marks Berkshire’s return to the news media since 2020, when it sold off its newspaper holdings, including Buffett’s hometown daily, the Omaha World-Herald. Still, the Times barely registers in the company’s overall public portfolio, at just 0.12% — and that's a complete rounding error at Berkshire's scale, just 0.03% of its total market cap.

At the same time, Berkshire seems to be repositioning toward the old economy while paring back some of its tech exposure. The company trimmed its stake in Amazon by 77%, while cutting its Apple holding by around 4% — though the iPhone maker remains Berkshire’s largest holding.

Meanwhile, energy and insurance quietly bulked up, with stakes in Chevron and Chubb increasing by 6.5% and 8.7%, respectively.  

Shares of The New York Times were up as much as 4% in early trading on Wednesday following the report, hitting a 52-week high, though they have since pared much of those gains.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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