TLDR
- Berkshire Hathaway revealed a fresh $2.65 billion investment in Delta Air Lines, marking its first airline investment since exiting the sector in April 2020
- The conglomerate expanded its Alphabet holdings by over 200%, reaching nearly 58 million shares valued at roughly $17 billion
- New CEO Greg Abel divested holdings in Visa, Mastercard, Amazon, UnitedHealth, and Domino’s Pizza during the quarter
- The company purchased $15.94 billion worth of equities while divesting $24.09 billion during Q1 2026
- Portfolio adjustments included new or expanded positions in Macy’s and The New York Times
Berkshire Hathaway has dramatically restructured its equity holdings during the opening quarter of 2026, notably re-entering the airline sector and substantially boosting its technology investments, Friday regulatory disclosures revealed.
The strategic pivot occurred during Greg Abel’s inaugural quarter as chief executive, following his January 1 succession of Warren Buffett.
Delta Air Lines Investment Signals Airline Sector Return
Berkshire acquired a 6.1% ownership position in Delta Air Lines, totaling 39.8 million shares valued at $2.65 billion at quarter-end. The purchase represents Berkshire’s first airline sector exposure in six years.
Buffett had liquidated Berkshire’s positions in Delta, American Airlines, Southwest, and United Airlines during April 2020, amid the pandemic’s onset. At that juncture, he declared the aviation sector faced fundamental structural changes.
Delta’s stock price climbed 3.3% during extended trading following the announcement.
The carrier has established itself as among the premier operators within the domestic airline industry. While Delta has capitalized on resurgent travel demand following the pandemic, the sector continues grappling with elevated fuel expenses.
Massive Alphabet Position Expansion
Berkshire significantly amplified its Alphabet investment, growing from approximately 18 million shares to nearly 58 million shares. The expanded position carries a valuation of about $17 billion, positioning it among Berkshire’s most substantial equity investments.
The company had maintained its Alphabet stake unchanged throughout Q4 2025, Buffett’s final complete quarter at the helm.
Portfolio Trimming Under New Leadership
Abel liquidated multiple positions primarily associated with former investment manager Todd Combs, who departed Berkshire in December 2025 for JPMorgan Chase.
Complete exits included Visa, Mastercard, Amazon, UnitedHealth, Domino’s Pizza, Aon, Charter, Diageo, and Pool Corp.
Additionally, the company reduced its Chevron position by 35%, although the energy giant maintains its status as Berkshire’s fifth-largest equity holding.
Strategic New Positions
Among purchases, Berkshire established a 3-million-share position in Macy’s valued at $55 million. Macy’s stock surged 6.3% in after-hours activity.
The firm also expanded its New York Times investment approximately threefold, reaching around 15 million shares worth approximately $1.3 billion.
Abel disclosed in February that he directly manages 94% of Berkshire’s equity portfolio, with investment manager Ted Weschler overseeing the remaining 6%.
Berkshire’s aggregate equity portfolio totaled $288 billion at March 31.
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