Warren Buffett's Berkshire raises stake in media giant

Warren Buffett's Berkshire Hathaway just made it clear that its interest in The New York Times isn't a one-time move.

After tripling its position in the first quarter of 2026, Berkshire (BRK.B) added even more New York Times (NYT) stock in the second quarter, growing its share count by more than 3.5%, according to Berkshire Hathaway investment holdings data.

It is a notable vote of confidence in legacy media from the most closely watched investor on Wall Street, especially as the news industry faces real headwinds from big tech platforms and AI search tools.

Berkshire adds NYT stock to its portfolio

According to the latest 13F filing data, Berkshire held 15.7 million shares of New York Times stock as of June 29, 2026, worth about $1.1 billion.

That is up 553,465 shares from the prior quarter, a 3.65% increase, and the position now equals 9.78% of the New York Times Company's outstanding shares.

For context, the stake sits alongside some of Berkshire's other well-known holdings, including Alphabet, Apple, Delta Air Lines and several major Japanese trading houses.

New York Times stock makes up a small slice of Berkshire's overall portfolio at 0.32%, but the steady buying pattern over two straight quarters suggests a deliberate build, not a passing trade.

Why New York Times stock caught Berkshire's eye

The timing lines up with a strong stretch of favorable financial results for the publisher.

In its second-quarter 2026 earnings call, New York Times Company President and CEO Meredith Kopit Levien described a quarter in which the company hit every priority it set for the year.

Some of the numbers behind that confidence, all from the company's Q2 earnings call:

Digital subscription revenue grew 16.4% year over year to $408 million.

The company added 280,000 net new digital subscribers, pushing total subscribers to 13.4 million.

Digital advertising revenue jumped 20.7% to $114 million, beating expectations.

Adjusted operating profit, known as AOP, grew 16% to about $155 million.

Adjusted diluted earnings per share rose 19% to $0.69.

Free cash flow came in around $266 million for the first half of the year, and the company returned about $160 million to shareholders through buybacks and dividends.

The combination of subscriber growth, pricing power, and consistent cash returns is what should attract Buffett-style value investors.

Levien pointed to video as a big part of the growth story going forward. The company launched a new shows tab in its flagship app.