Shares of the Times rose 4% to $76.99 after hours. Berkshire Hathaway said it owned about 5.07 million Times shares worth $351.7 million at the end of 2025. The company filed this with the U.S. Securities and Exchange Commission, showing its U.S.-listed stocks as of December 31. In the fourth quarter, Berkshire sold 4% of its stake in Apple, still its biggest holding at $62 billion. It also sold 77% of its 10 million shares in Amazon.com. This quarter was Warren Buffett’s last as leader of Berkshire after 60 years. Greg Abel became CEO on January 1, while Buffett remains chairman. The filing did not say who decided the investments – Buffett, Abel, or portfolio manager Ted Weschler. Another manager, Todd Combs, left in December for JPMorgan Chase. Buffett, who once delivered newspapers, called the Times a survivor. He had sold Berkshire’s newspaper business, including the Omaha World-Herald, to Lee Enterprises for $140 million in 2020. Berkshire also lent money to Lee. Buffett said in 2018 only the Times, the Wall Street Journal, and maybe the Washington Post had good digital models to survive print declines. During the same quarter, Berkshire bought more stock in Chevron and Chubb and sold some in Aon and Bank of America. More details will be in Berkshire’s annual report and CEO Abel’s first letter on February 28. Analysts say Berkshire has been cautious, avoiding large buybacks or big acquisitions for years. Berkshire also owns many other businesses, including BNSF railroad, Geico insurance, energy, manufacturing, and brands like Brooks and Dairy Queen.