Berkshire’s Last Buffett 13F: What Changed

February 18, 2026 – Berkshire Hathaway has filed its last 13F of the Warren Buffett era. Specifically, the quarterly disclosure covers the period ending December 31, 2025, the same day Buffett retired as CEO at age 95. As a result, his successor, Greg Abel, now leads the $1 trillion conglomerate.

The filing is more than a routine disclosure. In fact, it offers a window into how Berkshire is evolving under new leadership.

A Surprising Bet on the New York Times

The standout move is a brand-new stake in the New York Times Company (NYT). Berkshire now owns over five million shares. Notably, this is Berkshire’s first known investment in a major news organization.

The logic fits the Buffett playbook perfectly. The Times has transformed into a digital subscription powerhouse. Furthermore, it commands reader loyalty, recurring revenue, and pricing power. In an era of rising misinformation, credible journalism carries real economic value.

Chevron Gets a Bigger Vote of Confidence

Berkshire also raised its Chevron stake by roughly eight million shares. Consequently, the energy giant now represents one of Berkshire’s most significant convictions. This move signals confidence in Chevron’s cash generation and shareholder returns amid global energy uncertainty.

Tech Holdings Get Trimmed

Meanwhile, Amazon saw the sharpest cut. Berkshire slashed its position from 10 million shares to just over two million. Apple also dropped slightly, though it still holds the top spot as Berkshire’s largest position. Additionally, Berkshire trimmed Bank of America, likely to rebalance after strong multi-year gains.

What Stays the Same

Nevertheless, Berkshire left Alphabet, American Express, and Coca-Cola completely untouched. These positions reflect Berkshire’s enduring preference for dominant, cash-generating businesses.

The Takeaway

Overall, this 13F signals evolution, not revolution. Berkshire continues to make targeted, high-conviction bets. Therefore, the message to shareholders under Abel is clear: the playbook has not changed, only the hand holding it.