Фундаментальные показатели компании New York Times Company показывают смешанную картину. С одной стороны, высокий P/E (35.40) значительно превышает медиану отрасли, что может указывать на переоцененность. В то же время, такие показатели как ROE (17.55) и ROA (12.03) выше медианных значений, что свидетельствует о высокой эффективности компании. Долговая нагрузка на уровне 0.00 является положительным фактором, снижая риски, связанные с задолженностью. Однако, низкий уровень валовой маржи (50.51), ниже медианы отрасли, может вызывать опасения по поводу устойчивости прибыли. Выручка демонстрирует уверенный рост, что является положительным моментом, в то время как дивидендная доходность остается на нулевом уровне, что может вызывать вопросы у инвесторов. В целом, компания демонстрирует сильные стороны в области эффективности и управления долгами, но переоцененность по мультипликаторам и низкая валовая маржа могут оказать негативное влияние на будущие оценки акций.

New York Times Company (The)

Key Points
It's an entirely new era for Berkshire Hathaway, with longtime CEO Warren Buffett retiring on Dec. 31 and his understudy, Greg Abel, taking the reins.
The Oracle of Omaha and Abel share similar investment philosophies, right down to devoting an outsize share of capital to their best ideas.
Many of the billion-dollar wagers in Berkshire's portfolio are driven by sustainable competitive advantages.
This year marks a new era in Berkshire Hathaway's (NYSE: BRKA)(NYSE: BRKB) storied history. After leading Berkshire for well over half a century and seeing the company he built reach a $1 trillion market cap, billionaire Warren Buffett retired as CEO on Dec. 31.
The person responsible for filling some impossibly big shoes is the Oracle of Omaha's longtime understudy, Greg Abel. Abel has been with Berkshire for over a quarter-century, and he has a nose for value just like his predecessor.
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Although Buffett remains chairman of the board, Berkshire Hathaway's day-to-day operations, including the management and oversight of its $320 billion investment portfolio, fall to Abel. As of the closing bell on April 16, Berkshire's new boss has the final say over 48 positions.
Greg Abel's portfolio is highly concentrated in 10 core holdings
Warren Buffett's and Greg Abel's investment philosophies are very similar. In addition to value being of the utmost importance, both favor robust capital-return programs, strong management teams, and companies with sustainable competitive advantages.
Perhaps most importantly, Berkshire's former and current bosses believe in apportioning an outsize percentage of the company's capital into their best ideas. Just 10 positions account for nearly 79% of Berkshire Hathaway's invested assets:
Bank of America: $27,680,505,428
Chevron: $24,488,919,510
Occidental Petroleum: $15,067,219,181
Chubb: $11,248,116,681
Several of these "best idea" stocks share similarities. For instance, all 10 pay dividends to their shareholders, with some also actively repurchasing their shares. Apple has the largest share repurchase program on Wall Street, with the iPhone maker spending roughly $841 billion since 2013 to retire over 44% of its outstanding shares.
Buffett and Abel also view seven out of these 10 core positions as indefinite holdings. With the exception of Bank of America, Chevron, and Chubb, the remaining seven companies are expected to be fixtures in Berkshire's portfolio for decades to come. This includes Coca-Cola, American Express, and Moody's, the three longest-tenured holdings that are currently generating annual yields on cost of 63%, 45%, and 41%, respectively.
Investors can see Abel's influence among these 10 core holdings, as well. Abel is a huge fan of Japan's five trading houses, commonly known as the "sogo shosha," and was instrumental in building up sizable stakes in Mitsubishi and Mitsui.
Berkshire Hathaway has 20 additional billion-dollar wagers
On top of overseeing 10 positions that range from nearly $11 billion to $60 billion, Abel is responsible for 20 additional billion-dollar wagers in Berkshire Hathaway's $320 billion investment portfolio:
Itochu: $8,542,909,322
Kraft Heinz: $7,356,090,539
Alphabet: $5,996,660,635 (Class A shares, GOOGL)
Marubeni: $5,859,803,545
DaVita: $4,458,799,656
Sumitomo: $4,304,149,575
Kroger: $3,388,500,000
Constellation Brands: $2,135,250,000
Tokio Marine Holdings: $2,110,853,256
UnitedHealth Group: $1,594,518,050
Capital One Financial: $1,435,076,500
Nucor: $1,229,326,646
Ally Financial: $1,216,840,000
Aon: $1,208,228,343
Liberty Live Series C: $1,060,323,236
You'll note that the other three members of the sogo shosha are in this grouping (Itochu, Marubeni, and Sumitomo), and that they collectively make up five of Berkshire's 16 largest holdings by market value.
But what really stands out about these billion-dollar wagers is the emphasis on sustainable competitive advantages. For instance, Sirius XM and VeriSign operate as legal monopolies. Sirius XM is the only licensed satellite radio operator, while VeriSign is the registrar of ".com" and ".net" domains. Growth may not be off the charts for either company, but they possess unmatched competitive edges.
Abel is also overseeing close to $4.7 billion in combined investments in payment facilitators Visa and Mastercard. Whereas many of their peers double dip and act as lenders, Visa and Mastercard are solely focused on collecting merchant fees for facilitating payments. This means neither Visa nor Mastercard has to worry about setting aside capital for credit delinquencies or loan losses during periods of economic turbulence.
And we can't forget about Domino's Pizza, which is a stock the Oracle of Omaha added to for six consecutive quarters leading up to his retirement. Domino's ability to build consumers' trust and its track record of meeting or exceeding five-year growth initiatives made it a go-to investment for Berkshire's now-retired billionaire boss.
Abel's smaller holdings
Rounding things out are the 18 relatively smaller holdings that Greg Abel oversees, ranging from $5 million to approximately $692 million:
Pool Corp.: $692,463,211
Lennar: $626,124,360
Liberty Live Series A: $471,581,627
Louisiana-Pacific: $410,754,140
The New York Times Co.: $394,621,458
Heico Class A: $279,726,815
Liberty Formula One Series C: $271,488,837
Charter Communications: $250,336,326
Lamar Advertising: $162,505,712
Allegion: $110,404,422
NVR: $74,490,292
Liberty Latin America Series A: $20,227,853
Jefferies Financial Group: $20,186,460
Diageo: $18,229,110
Lennar Class B: $15,685,537
Liberty Latin America Series C: $11,055,412
Atlanta Braves Holdings Series C: $5,230,043
Many of these "smaller" positions fall into two categories: companies that have been reduced or are being removed from Berkshire's investment portfolio, or investments made by Ted Weschler or Todd Combs, the latter of whom left Berkshire to join JPMorgan Chase in December 2025.
For example, Berkshire's stake in e-commerce and cloud infrastructure services titan Amazon was slashed by 77% during the December-ended quarter. Historically, a 77% reduction in a mid-tier position in Berkshire Hathaway's portfolio has been a strong signal that a company would soon be getting the heave-ho. Though Amazon is historically inexpensive relative to its future cash flow, it's not a value stock in the traditional sense of the term -- and that may be a problem for Greg Abel.
While it's possible that some of these smaller positions can eventually become billion-dollar wagers, these investments are better viewed as trading opportunities for Weschler and his team.
Should you buy stock in Berkshire Hathaway right now?
Before you buy stock in Berkshire Hathaway, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Berkshire Hathaway wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $524,786!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,236,406!*
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Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. Sean Williams has positions in Alphabet, Amazon, Bank of America, Mastercard, Sirius XM, and Visa. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Atlanta Braves Holdings, Berkshire Hathaway, Chevron, Domino's Pizza, Heico, JPMorgan Chase, Jefferies Financial Group, Lennar, Mastercard, Moody's, NVR, The New York Times Co., VeriSign, and Visa and is short shares of Apple. The Motley Fool recommends Capital One Financial, Constellation Brands, Diageo Plc, Kraft Heinz, Kroger, Occidental Petroleum, Pool, and UnitedHealth Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Here Are All 48 Stocks Warren Buffett's Successor, Greg Abel, Is Overseeing in Berkshire Hathaway's $320 Billion Portfolio

Key Points
In his last quarter as CEO, Warren Buffett approved the sale of most of Berkshire's Amazon stock.
Berkshire opened a new position in a digital media behemoth with a product Buffett has loved for a long time.
The investing world marveled in 2019 when legendary investor Warren Buffett bought shares of Amazon (NASDAQ: AMZN) as part of the Berkshire Hathaway (NYSE: BRKB) portfolio. The notoriously tech-averse billionaire's only other long-term tech holding at the time was Apple (NASDAQ: AAPL).
Now the investing world is reeling again, because shortly before Buffett stepped down as Berkshire CEO, Berkshire sold off most of its Amazon shares. But instead of buying into another tech stock, Berkshire -- where Buffett remains chairman of the board -- piled into a very different type of digital company.
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Here's what stock Buffett bought, and why he would have chosen it as one of the last big buys of his investing career.
Buffett loves a good paper... or five
Buffett was once asked in an interview about how he keeps up to date on all the things he needs to know. He responded with characteristic candor:
I read and read and read. I probably read five to six hours a day. I don't read as fast now as when I was younger. But I read five daily newspapers.
Those newspapers included financial publications The Wall Street Journal and The Financial Times, his hometown newspaper The Omaha World-Herald, USA Today, and the namesake newspaper of his most recent stock buy, The New York Times Company (NYSE: NYT).
Yes, according to its most recent 13-F filing, Berkshire unloaded more than 7 million shares of Amazon.com, worth approximately $1.8 billion, and opened a new position in The New York Times Company. Berkshire scooped up more than 5 million shares at an average price of $61.09/share. Since the shares are currently trading at about $78/share, it's already proving to be a solid investment.
The paper's not on paper anymore
Although we don't know whether Buffett still gets print copies of his favorite newspapers, the investment thesis of The New York Times is all about digital media.
In its most recent quarter, The New York Times Company reported 12.78 million subscribers, 12.21 million of which were digital-only. That means the company's entire print subscriber base -- including those who have print and digital subscriptions --was just 570,000. Compare that to the company's net increase of 450,000 digital-only subscribers during the quarter, and you can see why investors consider The New York Times Company to be a digital media company. Nearly half of its $802.3 million in quarterly revenue -- 47.5% -- now comes from digital-only subscriptions.
All that digital subscriber growth is fueling more digital ad revenue, which increased a staggering 24.9% year over year to $147.2 million. Add that to the digital subscription revenue, and about two-thirds of the company's revenue is coming from digital-only sources.
Of course, that means that the company's print readers and advertisers are punching well above their weight when it comes to revenue generation, so I wouldn't expect the paper to go all-digital anytime soon. With more subscriber and ad revenue growth expected and a growing dividend to boot, this looks like a Buffett pick that will stand the test of time.
Should you buy stock in Berkshire Hathaway right now?
Before you buy stock in Berkshire Hathaway, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Berkshire Hathaway wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $524,786!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,236,406!*
Now, it’s worth noting Stock Advisor’s total average return is 994% — a market-crushing outperformance compared to 199% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 19, 2026.
John Bromels has positions in Amazon, Apple, Berkshire Hathaway, and The New York Times Co. The Motley Fool has positions in and recommends Amazon, Apple, Berkshire Hathaway, and The New York Times Co. and is short shares of Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Warren Buffett Dumped 77% of Berkshire's Amazon Stake and Opened a New Position in This Digital Media Juggernaut

Key Points
Billionaire Warren Buffett retired on Dec. 31 after spending more than half a century as Berkshire Hathaway's CEO.
Form 13Fs show Buffett was active in the quarters leading up to his retirement, including persistently selling shares of money-center titan Bank of America.
In his final quarter as CEO, Buffett purchased approximately $1.2 billion of an integrated oil and gas giant that has soared 36% since 2026 began.
For the first time in well over half a century, trillion-dollar conglomerate Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) is steaming ahead without Warren Buffett at the helm. The famed Oracle of Omaha retired as CEO on Dec. 31, but remains director of the board.
Although Buffett telegraphed his departure roughly eight months in advance, it doesn't mean he stopped positioning the company that he and his late right-hand man, Charlie Munger, helped build for future success. This is especially true of Berkshire Hathaway's $312 billion investment portfolio, where Buffett remained active until his retirement as CEO.
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Even though it's been three months without Buffett steering the company's day-to-day operations, his impact is still being felt, as evidenced by Berkshire's latest Form 13F filing. A 13F is a required filing for institutional investors with at least $100 million in assets under management that details which stocks Wall Street's preeminent money managers purchased and sold in the latest quarter.
Instead of riding off quietly into the sunset, Warren Buffett went out with a bang. In the quarters leading up to his retirement, he persistently dumped shares of money-center titan Bank of America (NYSE: BAC) and ended his tenure as CEO by piling approximately $1.2 billion into one of Wall Street's hottest oil stocks.
The Oracle of Omaha slashed his previously gigantic stake in Bank of America by 50%
As of the midpoint of 2024, BofA, as Bank of America is commonly known, was fully entrenched as one of Berkshire's core holdings. The more than 1.03 billion shares Buffett's company held were valued at north of $41 billion.
But between July 2024 and the retirement of Berkshire's billionaire boss, shares of BofA were sold each quarter. In aggregate, 515,556,072 shares were sent to the chopping block, representing roughly half of Berkshire's peak stake.
To be objective, Bank of America wasn't the only stock the Oracle of Omaha was paring down prior to his retirement. Buffett was a net seller of equities for 13 consecutive quarters (Oct. 1, 2022 – Dec. 31, 2025), totaling approximately $187 billion.
During Berkshire Hathaway's annual shareholder meeting in May 2024, he opined that corporate income tax rates were likely to climb in the coming years. This expectation served as the basis for dumping shares of Apple, and may have been the catalyst that fueled the aforementioned persistent selling in Bank of America stock.
But profit-taking probably isn't the full story.
Warren Buffett's aggressive selling of BofA stock spanning 18 months leading up to his retirement likely had to do with the company's valuation and its interest-sensitive nature.
While we've witnessed Buffett break and bend some of his unwritten investing rules over several decades, the one rule he was unwavering about was his desire to get a good deal. Value took precedent above all else.
When Buffett initially purchased preferred shares of BofA in August 2011, its common stock was trading at a 62% discount to its book value. Bank of America shares entered 2026 at a 43% premium to book value. The eye-popping bargain that enticed Berkshire's now-former boss to pounce is no longer evident.
The other possible catalyst is BofA's interest rate sensitivity. When the Federal Reserve rapidly increased interest rates from March 2022 through July 2023, no bank benefited more, in terms of interest income, than Bank of America. But with the central bank in a rate-easing cycle, there's the potential for BofA's net interest income to be adversely impacted, compared to other money-center banks.
Warren Buffett made a timely buy of one of Wall Street's leading oil stocks
While a lot of attention was paid to the final new addition in Buffett's last quarter as CEO, The New York Times Co., it's his purchase of approximately $1.2 billion worth of integrated oil and gas behemoth Chevron (NYSE: CVX) that's making waves.
Chevron has consistently been a top-five holding for Berkshire Hathaway over the last four years. During the fourth quarter, the Oracle of Omaha green-lit the purchase of 8,091,570 shares. Though we don't know the average purchase price of these shares, we do know that Chevron spent much of the fourth quarter hovering in the low $150s.
Shares of Chevron have soared by 36% since the year began, through the closing bell on March 26. This outsize gain has been fueled by a historic energy supply chain disruption caused by the Iran war.
On Feb. 28, U.S. and Israeli forces commenced military operations against Iran, which in turn led to the latter closing the Strait of Hormuz to virtually all oil exports. Approximately 20% of the world's liquid petroleum travels through the Strait of Hormuz daily.
The law of supply and demand states that when demand for a good or service outstrips its supply, its price will climb until demand tapers. In the wake of the Iran war, crude oil prices skyrocketed, which bodes well for Chevron's high-margin drilling segment.
However, Warren Buffett added to Berkshire Hathaway's stake in Chevron long before attacks began on Iran. His optimism likely had to do with Chevron's integrated operating model, as well as its hearty capital-return program.
Although drilling is where Chevron generates its top-tier operating margin, it also oversees transmission pipelines, chemical plants, and refineries. These midstream and downstream assets act as hedges in the event that crude oil prices decline. These assets also generate predictable operating cash flow.
Furthermore, Warren Buffett was always a fan of outsize capital-return programs. Chevron has increased its dividend for 39 consecutive years and has used share buybacks to reduce its outstanding share count by nearly 12%. Companies with steady or growing net income and a declining share count can expect an earnings-per-share boost.
Should you buy stock in Chevron right now?
Before you buy stock in Chevron, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Chevron wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $501,381!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,012,581!*
Now, it’s worth noting Stock Advisor’s total average return is 880% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 1, 2026.
Bank of America is an advertising partner of Motley Fool Money. Sean Williams has positions in Bank of America. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, Chevron, and The New York Times Co. and is short shares of Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Warren Buffett Went Out With a Bang by Selling 50% of His Bank of America Stake and Piling Into One of the Hottest Oil Stocks on Wall Street

Key Points
Buffett started one new position and added to four other stocks in Berkshire's portfolio last quarter.
The stock purchases are relatively small, but indicate Buffett saw value in those shares.
The best of the bunch was on Buffett's buy list for six straight quarters.
Warren Buffett spent the last few years of his time at the helm of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) waiting for a great investment opportunity. Unfortunately, the market had other ideas. Buffett was a net seller of stocks in each of his last 13 quarters in charge of Berkshire's portfolio.
In that time, Buffett made a few relatively small investments in a handful of stocks. That includes spending $3.5 billion on five companies in his final quarter in charge.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Here's what Buffett bought to close out 2025, and the one stock that stands out above the rest.
Buffett's final stock purchases for Berkshire Hathaway
While Berkshire Hathaway doesn't disclose exactly how much it paid for every stock it buys, it does disclose how much it spends purchasing equities and how much cash it raises from selling equities on its cash flow statement every quarter. Its fourth-quarter statement of cash flows showed an increase in equity purchases of $3.5 billion last quarter, but sales increased by $6.6 billion.
While $3.5 billion would be a lot for most money managers, it represents less than half a percentage point of Berkshire Hathaway's liquid assets, which include $373 billion in cash and Treasury bills as of the end of 2025. Still, the purchases are noteworthy, as they suggest Buffett sees value in these companies.
Here are the five stocks Buffett and his team of investment managers bought to close out 2025:
Buffett's investment in Chubb dates back to 2023, when he started accumulating shares for Berkshire while receiving a disclosure exemption from the SEC. That allowed him to build a sizable position in the insurer, which is now worth more than $11 billion. Buffett's familiarity with the insurance industry may have allowed him to recognize Chubb's ability to continue raising underwriting premiums to grow earnings. The market has caught up with that idea, however, pushing the valuation from about 10 times earnings expectations to more than 12 times earnings.
Buffett established a sizable position in Chevron in late 2020 and added to it in 2022. While exposure to the oil and gas company has fluctuated, it remains one of Berkshire's largest holdings. Volatile oil prices have sent the stock soaring this year, as it holds key assets in the Permian Basin and the Gulf of Mexico and executes plans to reduce costs while increasing production. But long-term investors don't depend on oil prices remaining abnormally high, which makes its current price look expensive.
Buffett's newest addition to the portfolio is The New York Times. The newspaper publisher has bucked the trend of print media with its digital transformation, which includes popular games and recipes apps. While other publishers are seeing declining subscriber counts and pageviews, The New York Times has added subscribers and increased total revenue per subscriber. Still, the premium investors will pay for the stock has climbed since the fourth quarter. It now trades at close to 30 times earnings expectations.
The stock that stands out as best of the bunch, though, has been on Buffett's buy list for six straight quarters. And it might be worthy of further purchases in 2026.
The best of Buffett's recent buys
Buffett has quickly amassed a substantial stake in Domino's Pizza over the last six quarters. Berkshire Hathaway now owns nearly 10% of the pizza purveyor after accounting for the company's most recent round of share repurchases. In fact, that may be the biggest reason Buffett didn't buy more of the stock, as a 10% stake would require additional and more frequent SEC disclosures for each transaction.
Domino's has executed well, leveraging its strong brand and technology to take share in the quick-service restaurant pizza category. Its fortressing strategy -- putting multiple stores in close proximity -- has increased awareness, driven more high-margin carryout orders, and reduced delivery times, all benefiting its bottom line. Despite the high concentration of stores, it has managed to increase same-store sales quarter after quarter. Most recently, it posted 3.7% same-store growth in the U.S.
Domino's scale gives it a significant cost advantage over smaller competitors. As a result, it's able to offer great value to customers while ensuring franchisees benefit from its supply chain.
While the growing popularity of delivery apps threatens one of the key attractions of the pizza category, Domino's has struck deals with them while maintaining its best deals for its most loyal customers who order directly from the restaurant. That's enabled the company to expand its customer base, and management said it experienced growth across all income cohorts in 2025.
With strong same-store sales growth, steady expansion of its store count, and improving margins from increased carryout orders and scale, Domino's is poised to continue producing strong earnings growth for the foreseeable future. With the stock trading for just 19 times earnings expectations, it looks like a great Buffett stock to buy right now.
Should you buy stock in Domino's Pizza right now?
Before you buy stock in Domino's Pizza, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Domino's Pizza wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $494,747!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,094,668!*
Now, it’s worth noting Stock Advisor’s total average return is 911% — a market-crushing outperformance compared to 186% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
Adam Levy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway, Chevron, Domino's Pizza, and The New York Times Co. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Warren Buffett Spent $3.5 Billion on 5 Stocks in His Last Quarter as Berkshire Hathaway CEO. Here's the Best of the Bunch.

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in International Business Machines Corp (Symbol: IBM), where a total of 80,762 contracts have traded so far, representing approximately 8.1 million underlying shares. That amounts to about 113.6% of IBM's average daily trading volume over the past month of 7.1 million shares. Especially high volume was seen for the $280 strike put option expiring March 20, 2026, with 28,501 contracts trading so far today, representing approximately 2.9 million underlying shares of IBM. Below is a chart showing IBM's trailing twelve month trading history, with the $280 strike highlighted in orange:
New York Times Co. (Symbol: NYT) options are showing a volume of 22,095 contracts thus far today. That number of contracts represents approximately 2.2 million underlying shares, working out to a sizeable 98.3% of NYT's average daily trading volume over the past month, of 2.2 million shares. Particularly high volume was seen for the $80 strike put option expiring May 15, 2026, with 10,001 contracts trading so far today, representing approximately 1.0 million underlying shares of NYT. Below is a chart showing NYT's trailing twelve month trading history, with the $80 strike highlighted in orange:
And Thermo Fisher Scientific Inc (Symbol: TMO) options are showing a volume of 19,487 contracts thus far today. That number of contracts represents approximately 1.9 million underlying shares, working out to a sizeable 94% of TMO's average daily trading volume over the past month, of 2.1 million shares. Particularly high volume was seen for the $570 strike put option expiring March 20, 2026, with 2,100 contracts trading so far today, representing approximately 210,000 underlying shares of TMO. Below is a chart showing TMO's trailing twelve month trading history, with the $570 strike highlighted in orange:
For the various different available expirations for IBM options, NYT options, or TMO options, visit StockOptionsChannel.com.
Also see:
ValueForum Discussion Community
SPGI Stock Predictions
The Ten Biggest ETFs
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Thursday Option Activity: IBM, NYT, TMO

Key Points
Warren Buffett handed the reins to his chosen successor, Greg Abel, to start 2026.
Berkshire generated exceptional returns during Buffett's six-decade tenure, outperforming the S&P 500 by a wide margin.
Buffett returned a whopping $77.8 billion to shareholders during his final years as CEO, and it appears Abel will follow in his footsteps.
Warren Buffett served as the chief executive officer of the Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) holding company from 1965 until the end of 2025, when he stepped down and handed the reins to his chosen successor, Greg Abel. Buffett will continue as board chairman, so he isn't out of the picture entirely.
During Buffett's six decades as CEO, Berkshire stock delivered a compound annual return of 19.7%, crushing the S&P 500 (SNPINDEX: ^GSPC), which returned an average of 10.5% per year during the same period. In dollar terms, a $1,000 investment in Berkshire in 1965 would have grown to an eye-popping $48.4 million at the end of 2025, whereas the same investment in the S&P 500 would have been worth just $399,702.
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Buffett returned a truckload of money to shareholders through stock buybacks during his final few years as CEO, and in an interview earlier this month, Abel announced he is following in his predecessor's footsteps. Here's why this is great news for Berkshire stock.
Buffett turned Berkshire into a $1 trillion conglomerate
Berkshire Hathaway was a struggling textiles manufacturer when Buffett took a controlling stake in 1965. Upon realizing that its core business simply wasn't viable, he turned it into a holding company for his various investments. It is now a $1 trillion conglomerate with numerous wholly owned subsidiaries, a $306 billion portfolio of publicly traded stocks, and a whopping $373 billion in cash.
Berkshire owns insurance companies like GEICO Insurance, General Re, and National Indemnity Company, in addition to utilities like PacifiCorp and Northern Natural Gas. It also owns logistics companies like BNSF Railway, which operates one of America's largest freight railroad networks. These subsidiaries produce a ton of cash flow, which funds other acquisitions and investments for Berkshire.
Berkshire invests a lot of that money in the public markets. Through its $306 billion stock portfolio, the conglomerate owns minority stakes in dozens of different companies, including media giants like The New York Times Co., restaurant chains like Domino's Pizza, payment powerhouses like Visa, and technology titans like Apple (NASDAQ: AAPL).
Apple is actually Berkshire's single largest holding. Buffett invested about $38 billion in the iPhone maker between 2016 and 2023, and the stake was worth a staggering $170 billion heading into 2024. To cash in some of those gains and reduce risk, Buffett, Abel, and their respective teams have gradually sold about 75% of Berkshire's Apple position since then, but it still represents 18.6% (or $57 billion) of the conglomerate's portfolio.
The sales have added to Berkshire's growing cash pile, and it's getting harder for the company's portfolio managers to find new investment opportunities that are large enough to actually move the needle. For some perspective, 477 of the 500 companies in the S&P 500 index are worth less than Berkshire's $373 billion cash position.
Stock buybacks are back!
Buffett used to return cash to shareholders when he felt Berkshire couldn't make good use of it. Companies typically do this by paying dividends or by buying back stock, but Buffett preferred the latter for two reasons.
First, buybacks are very flexible. Buffett could authorize them at his discretion, as long as Berkshire had at least $30 billion in cash on hand. Second, investors don't realize the financial benefits of buybacks until they sell their Berkshire shares, so they can defer the tax liability to a time of their choosing. Dividends, on the other hand, provide a stream of taxable income.
Buffett authorized a whopping $77.8 billion worth of buybacks between 2018 and mid-2024, which is about twice as much as Berkshire has ever invested in any single company. However, there were no repurchases in the second half of 2024, or in 2025. This is likely because Buffett wanted to leave Berkshire with as much cash as possible to give Abel the best chance of success as the new CEO.
But in an interview with CNBC earlier this month, Abel said that the buybacks have officially resumed. He didn't provide any figures, but this is great news for shareholders who will now see their holdings increase in value. It will also allow Berkshire to reduce its hefty cash position.
There is no guarantee that Abel will dedicate as much money to buybacks as Buffett did, but if the conglomerate continues to struggle finding suitable investment opportunities, I would expect an increasing amount of money to flow to investors from here.
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Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, Domino's Pizza, The New York Times Co., and Visa and is short shares of Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Greg Abel Just Took a Page Out of Warren Buffett's Playbook, and It's Great News for Berkshire Hathaway Stock

Key Points
Amazon remains a powerhouse, and its cloud computing segment is getting bigger.
Moody's and American Express are financial stocks that fit the Buffett mold.
Buffett led Berkshire Hathaway into newspapers -- and into Japanese stocks, too.
I will always be a fan of Warren Buffett and his buy-and-hold style of investing in quality companies. Through his 60-year run as CEO of Berkshire Hathaway, Buffett led the conglomerate to incredible growth, with a compounded annual return of 19.9% that nearly doubled the performance of the S&P 500.
I'm glad that Buffett's legacy is continuing under the new leadership of his trusted lieutenant, Greg Abel, who took the reins this year when Buffett stepped down from the CEO's chair at age 95. What an incredible career.
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That's why I'm going to continue tracking Buffett's portfolio and identify some of the best stocks to buy. If you have $900 to spare, here are nine Buffett stocks that are worth an investment. Put $100 in each of them, using fractional shares.
Amazon
Amazon (NASDAQ: AMZN) is the biggest company on this list, powered by its dominant e-commerce business and its fast-growing Amazon Web Services cloud computing component. Amazon became a household name through e-commerce, but it's getting a lot more money from AWS these days, which is why I'm interested in Amazon stock.
AWS is growing in importance as companies seek to move computing operations to cloud environments, which are cheaper than building their own infrastructure to handle things like artificial intelligence and high-performance computing workloads. AWS revenue was $128.7 billion in 2025, up 20% from a year ago and netting operating income of $45.6 billion. E-commerce generated $588.19 billion in sales, but only $36.36 billion in income.
American Express
American Express (NYSE: AXP) is, in my opinion, the best credit card company stock to buy. Buffett obviously favors it as well, as Berkshire owns a 22.1% stake in AmEx, but only a 0.4% stake in Mastercard and Visa.
I like American Express because of its position in the market -- it caters to businesses and more affluent consumers, which means it can charge a bundle for its cards. It unveiled an upgraded platinum card last year with a whopping $895 annual membership fee.
I also like it because it has a revenue stream that Mastercard and Visa can't touch. AmEx issues personal loans, and brought in $4.5 billion in net interest income in the fourth quarter, up 12% from a year ago.
The New York Times Company
You may not remember that Buffett is a longtime fan of newspapers and media companies. As a self-proclaimed newspaper "addict," Buffett led Berkshire to own more than 30 newspapers, including his hometown Omaha World-Herald. But Berkshire sold BH Media Group to Lee Enterprises in 2020 as circulation and advertising declined.
However, in the last quarter of Buffett's tenure as Berkshire's CEO, he put his company back in the newspaper business with an investment in The New York Times Company (NYSE: NYT). Berkshire owns more than 5 million shares of the company, for a 3.2% stake.
The New York Times isn't immune from industry challenges, but it's in a much better position to navigate them. It added 450,000 net digital-only subscribers in the fourth quarter, bringing its subscriber base to 12.78 million, and saw digital advertising revenues increase nearly 25% from a year ago.
Moody's
You've likely heard of Moody's (NYSE: MCO), but it's never at the top of mind when you consider investments. I think it should be. Moody's is best known for its credit ratings, which indicate the financial health of companies, governments, and debt securities. It's a big deal when a government or company slips in Moody's ratings because it means higher borrowing costs in the future.
Revenue in 2025 was $7.71 billion, up from $7.08 billion the year before. Net income rose 19% to $2.45 billion, and earnings per share jumped 21% to $13.67. Berkshire owns 24.7 million shares of Moody's stock for a 13.9% stake.
The five Japanese trading houses
Berkshire Hathaway took a position in five Japanese trading houses in 2019. These conglomerates work in a variety of fields, including energy, real estate, financial services, healthcare, and consumer companies, much like Berkshire itself.
Berkshire initially took positions of about 5% each in these five companies -- Itochu (OTC: ITOCF), Marubeni (OTC: MARUY) (OTC: MARUF), Mitsubishi (OTC: MSBHF), Mitsui (OTC: MITSF) (OTC: MITSY), and Sumitomo (OTC: SSUMY) (OTC: SSUMF) -- with a combined value of about $6.3 billion. But Berkshire has been slowly adding to its positions, as each stake is now more than 8% and has a combined value of $41 billion.
Buffett has said that Berkshire will invest in these companies for decades, and I expect that to continue even as Buffett enjoys his well-earned retirement.
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American Express is an advertising partner of Motley Fool Money. Patrick Sanders has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Berkshire Hathaway, Mastercard, Moody's, The New York Times Co., and Visa. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Best Warren Buffett Stocks to Buy With $900 Right Now

Paramount Gets Warner Bros. Discovery, but Netflix Comes Out a Winner

Key Points
Buffett trimmed two of Berkshire's biggest tech investments last quarter.
New CEO Greg Abel might or might not continue selling in 2026.
Buffett's last new purchase as CEO fits in with two other long-term holdings.
As Warren Buffett approached the end of his tenure as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB), he went on a selling streak unlike any in history. He sold more stock than he bought in each of the last 13 quarters of his time in charge of Berkshire's massive marketable equity portfolio. That led to an astounding cash pile of $373 billion at the end of 2025.
Buffett took the axe to some of Berkshire's biggest positions, and last quarter was no different. He continued to trim its massive stake in Apple (NASDAQ: AAPL) and began selling Berkshire's Amazon (NASDAQ: AMZN) shares as well. Those sales totaled an estimated $4.5 billion. Meanwhile, Buffett started a new position in a company that's been around since the 1850s.
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Cutting a couple of longtime holdings
Buffett invested over $30 billion in Apple between 2016 and 2018, making it one of his largest-ever investments. And boy, did it pay off.
Berkshire's shares approached nearly $200 billion in value in 2023 prior to Buffett's decision to trim the position. At one point, the stock accounted for more than 50% of Berkshire's marketable equity portfolio. Even after selling more than three-quarters of its shares, the position is still worth about $60 billion today.
Buffett has previously said he doesn't mind a high concentration of his highest-conviction stocks in a portfolio, a sentiment echoed by new CEO Greg Abel in his first letter to shareholders. While Buffett may have been comfortable with 50% of Berkshire's portfolio in a single stock, he probably wasn't as comfortable with the valuation of that stock.
Apple's trailing P/E climbed from around 10 when Buffett first started buying the shares to about 29 when he first started selling shares in 2023 and 34 at the end of 2025. The valuation remains elevated, even on a forward-looking basis, with the stock trading for 31 times analysts' estimates for the next 12 months.
Even after selling a huge chunk of Apple shares, the stock remains its largest marketable equity position, accounting for about 19% of the total portfolio as of this writing. Abel said investors should expect "limited activity" with regard to Berkshire's Apple stake in the future, so Berkshire may be done selling Apple stock.
The decision to sell Amazon comes after Berkshire has held roughly the same position since early 2019. Many believe the Amazon position was established by Todd Combs, who left the company last quarter. As a result, it's not a big surprise that the company would want to dispose of some of the stocks he was in charge of managing for Berkshire.
Amazon looks like a relative value compared to where it was when Berkshire initially bought shares in 2019. Its P/E ratio fell to 32 by the end of 2025, compared to the 80 times earnings multiple it garnered when Berkshire bought it.
That said, there may be concerns about its free cash flow as it invests heavily in new data centers to meet demand for artificial intelligence (AI) compute. Amazon surprised investors with its $200 billion capital expenditure budget for 2026, which will likely result in negative free cash flow for the year.
Apple and Amazon aren't the only stocks Buffett sold last quarter. And continued selling in Berkshire's portfolio is a sign that Buffett still thinks much of the market is overvalued at this point. That said, there are pockets of opportunities, and Buffett may have found another one right before he retired.
Out with the old, in with the ... older
In his 2023 letter to shareholders, Buffett told investors, "Berkshire is not big on newcomers." He mentioned it as an aside when describing two of his favorite stocks: American Express and Coca-Cola.
Amex began operations all the way back in 1850, and Coca-Cola got its start in 1886. Buffett's latest investment started in 1851 when it published the New-York Daily Times. Today, it's known as The New York Times (NYSE: NYT). Buffett's bet on the newspaper company comes at a time when the news media, particularly the print news media, are facing significant disruption. But Buffett's no stranger to the news business.
Berkshire previously held shares of Graham Holdings, which owned the Washington Post before Amazon founder Jeff Bezos bought it. Buffett served on the board there for a combined 37 years across two stints. Today, the Post is facing significant turmoil, and it recently laid off 30% of its workforce after posting a loss exceeding $100 million in 2025.
But The New York Times has been able to buck the trend. It pushed revenue 9% higher in 2025 while keeping expenses low, leading to a 23% increase in its operating profit. Net income came in at $344 million, up 18% for the year.
That's owed to the publisher's digital transformation, which includes top-tier content across multiple categories beyond news. Its Cooking and Games content keep readers subscribed and coming back to The New York Times for its journalism. Additionally, it expanded its addressable market with sports coverage (The Athletic), product reviews (Wirecutter), and podcasts. The New York Times has managed the shift to digital better than any other 174-year-old publisher and even much younger ones.
Subscriber growth remains strong for the company, up 1.4 million for the year, and 96% of its 12.8 million subscribers are digital-only and pay an average of $9.72 per month. Management expects its strength to continue in the first quarter, with digital-only subscribers rising between 14% and 17% year over year, which should lead to low double-digit revenue growth.
It's worth noting that investors currently have to pay up for the high-quality company. Shares trade for close to 30 times forward earnings estimates. Buffett likely got a much better deal on the shares, which traded for a multiple in the low-to-mid-20s in the third quarter. That seems like a fair price to pay for a wonderful business. At the current price, though, it might be worth waiting for a better entry point.
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American Express is an advertising partner of Motley Fool Money. Adam Levy has positions in Amazon and Apple. The Motley Fool has positions in and recommends Amazon, Apple, Berkshire Hathaway, and The New York Times Co. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

New York Times Company (The)

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