$1.31 trillion. That’s the figure defining the stakes as Greg Abel officially steps into the role of CEO at Berkshire Hathaway Inc, succeeding the legendary Warren Buffett. While the transition was long-planned, the subtle shifts in portfolio positioning under Abel’s watch in late 2025 – specifically the new stake in The New York Times Company and adjustments to existing holdings – aren’t merely procedural. They signal a potential recalibration of Berkshire’s investment philosophy, moving beyond Buffett’s famed value investing towards a strategy that more actively anticipates, and potentially profits from, evolving information landscapes. Follow the money: these aren’t just stock picks, they’re declarations about where Berkshire sees future growth, and where it’s willing to deviate from decades of precedent.
A New Chapter for Berkshire’s Portfolio
The most immediate change is Berkshire’s entry into The New York Times, acquiring approximately 8.8% of the company. This isn’t a typical “value” play; The New York Times trades at a premium compared to many traditional media companies. The move suggests Abel recognizes the enduring power of a strong brand and a successful digital subscription model – a sector Buffett historically avoided, publicly expressing skepticism about the future of newspapers. This represents a 180-degree turn. In 2011, Buffett famously stated he’d “rather be shot” than own a newspaper, citing the industry’s decline. The $138.7 million investment, while a relatively small percentage of Berkshire’s overall portfolio, is disproportionately significant as a symbolic break from that stance. It’s a bet on the distribution of information, not just the underlying businesses Berkshire traditionally favored.
This article draws on reporting from Yahoo Finance.
Apple Remains King, But Adjustments Hint at Nuance
Despite the headline-grabbing New York Times purchase, Apple Inc remains Berkshire’s largest holding, comprising roughly 38.9% of the $364 billion equity portfolio as of the end of 2025. However, even within this core position, Abel’s actions reveal a more nuanced approach than simply “hold for the long term.” While Berkshire didn’t drastically reduce its Apple stake, the slight trimming – selling off approximately $2 billion worth of shares – suggests a willingness to take profits and reallocate capital. This contrasts with Buffett’s earlier, more steadfast commitment to Apple, often citing its brand loyalty and ecosystem lock-in. Year-over-year, Apple’s weighting within the portfolio has decreased from 41.5% in 2024, a subtle but consistent trend indicating a strategic diversification, even within the dominant holding.
Shifting Sands in Financials and Energy
Beyond Apple and the New York Times, adjustments were made to holdings in the financial and energy sectors. Berkshire reduced its position in American Express by roughly 3%, and modestly increased its stake in Occidental Petroleum. The American Express reduction, while small, is noteworthy given Buffett’s long-standing admiration for the company and its consumer spending-driven business model. This could reflect concerns about a potential slowdown in consumer discretionary spending, a risk increasingly flagged by economists in late 2025. Conversely, the increased investment in Occidental Petroleum aligns with a broader trend of energy sector investment driven by geopolitical instability and rising oil prices, but also suggests Abel is comfortable with a sector Buffett approached with more caution. Occidental Petroleum now represents 7.5% of the portfolio, up from 6.8% in the previous quarter.
The Coca-Cola Conundrum and Continued Concentration
Coca-Cola, a perennial Berkshire favorite, remained largely unchanged, continuing to represent a significant portion of the portfolio. This adherence to a classic “value” stock, despite its relatively slower growth compared to tech giants, underscores a degree of continuity with Buffett’s strategy. However, the overall portfolio remains remarkably concentrated. The top five holdings – Apple, Bank of America, American Express, Coca-Cola, and Chevron – account for over 70% of the equity portfolio. This concentration, while historically a hallmark of Berkshire’s success, presents a heightened risk profile. A significant downturn in any one of these sectors could have a disproportionately large impact on Berkshire’s overall performance.
What This Means for Your Wallet
Abel’s early moves aren’t about dismantling Buffett’s empire, but about adapting it to a changing world. The investment in The New York Times signals a willingness to embrace companies with strong digital moats, even at premium valuations. The slight trimming of Apple and American Express suggests a more active approach to portfolio management, prioritizing capital allocation over simply holding onto winners. For investors, this means Berkshire Hathaway under Abel is likely to be less predictable than it was under Buffett. Watch for continued diversification within the top holdings – will Abel continue to subtly rebalance the portfolio towards sectors benefiting from the information economy and geopolitical shifts? The key question isn’t whether Abel can replicate Buffett’s success, but whether he can navigate the next decade with a strategy that acknowledges the fundamental changes reshaping the global economy. Specifically, monitor Berkshire’s activity in the media and technology sectors over the next two quarters – will the New York Times investment be a one-off, or the beginning of a broader trend?
