Adds New York TImes after-hours stock price, other Berkshire investments, background, byline

By Jonathan Stempel

Feb 17 (Reuters) - Berkshire Hathaway BRKa.N disclosed on Tuesday a new investment in the New York Times NYT.N, marking its reentry into a sector that Warren Buffett abandoned in 2020 when he sold his conglomerate's newspaper business.

Shares of the Times rose 4% to $76.99 in after-hours trading.

In a filing with the U.S. Securities and Exchange Commission, Berkshire said it owned about 5.07 million Times shares worth $351.7 million at the end of 2025.

Berkshire's filing contained the Omaha, Nebraska-based company's U.S.-listed stock holdings as of December 31, which comprise most of its equity portfolio.

Berkshire said that during the fourth quarter, it also sold 4% of its stake in iPhone maker Apple AAPL.O, still its largest equity holding at $62 billion, and 77% of its 10 million shares in online retailer Amazon.com AMZN.O.

The quarter marked the end of Buffett's 60-year run leading Berkshire. Greg Abel succeeded him as chief executive on January 1, though Buffett remains chairman.

Berkshire's filing does not say whether investments were directed by Buffett, Abel or portfolio manager Ted Weschler. Another portfolio manager, Todd Combs, left in December for JPMorgan Chase JPM.N.

Stock prices routinely rise when Berkshire reveals new stakes, reflecting what investors view as a seal of approval from Buffett. It was unclear whether that will continue under Abel.

Berkshire has not named a new chief investment officer to replace Buffett, or said how it will divvy up equity investments.

BUFFETT, FORMER PAPER CARRIER, CALLED THE TIMES A SURVIVOR

Buffett delivered newspapers as a teenager, and had long defended the industry before selling Berkshire’s newspaper business, including its hometown Omaha World-Herald, to Lee Enterprises LEE.O for $140 million in 2020. Berkshire also became Lee's only lender.

Loathe to sell entire businesses, Buffett told Berkshire shareholders in 2018 that only the Times, the Wall Street Journal NWSA.O and perhaps the Washington Post had digital models strong enough to offset declining print circulation and advertising revenue.

The Post, owned by Amazon founder Jeff Bezos, has since encountered its own struggles, and this month laid off approximately one-third of its employees.

During the fourth quarter, Berkshire also bought and sold several other stocks, adding to its holdings in Chevron CVX.N and Chubb CB.N and selling some Aon AON.N and Bank of America BAC.N stock.

More details about Berkshire's investments may appear in the company's annual report and Abel's first shareholder letter on February 28.

Investors and analysts have said Berkshire has been cautious about valuations, having gone more than a year with no stock buybacks and a decade without a giant acquisition.

Berkshire also owns dozens of businesses including the BNSF railroad, Geico car insurance, energy and manufacturing companies, and retail brands such as Brooks, Dairy Queen, Fruit of the Loom and See's.