Warren Buffett’s Berkshire Hathaway trimmed its Apple stake and initiated a position in The New York Times in Q4. Even with the cut, Apple remains their largest equity holding. The conglomerate also reduced its Apple stake in Q3 and Q2 of the previous year. Apple underperformed the S&P 500 in 2025 and is down 3% this year.

Unclear if Buffett or managers made the moves. Buffett sees Apple as a consumer products company. The adjustments may aim to simplify the portfolio for his successor. Berkshire disclosed a small stake in The New York Times. This quarter marked the last with Buffett as CEO, with Greg Abel succeeding him.

Buffett announced Abel would replace him last May. Structural changes at Berkshire included Todd Combs resigning in December. Combs joined JPMorgan Chase in January. Buffett remains chairman of the board despite stepping down as CEO.

Read more at CNBC: Berkshire Hathaway trims Apple stake, buys NYTimes stock in Buffett’s last moves as CEO