Quick Summary
- Pershing Square initiated a fresh Microsoft stake following a share price decline, simultaneously closing out its Alphabet holdings
- Berkshire Hathaway significantly expanded its Alphabet investment from approximately 18 million shares to 58 million, creating a position worth about $16.6 billion
- In an unexpected shift, Berkshire re-entered the airline sector with a substantial Delta Air Lines investment ranging between $2.65 billion and $3 billion
- Both Appaloosa and Pershing Square increased their Amazon holdings, despite Berkshire reducing its stake
- Appaloosa and Pershing Square both accumulated Uber stock, with Appaloosa’s holding reaching approximately $455 million
The investment world’s most prominent money managers executed significant portfolio adjustments throughout Q1 2026, as revealed through recently published 13F regulatory filings. These mandatory disclosures capture institutional holdings as they stood on March 31, 2026, meaning they represent historical snapshots rather than real-time positions.
The disclosed transactions indicate sustained enthusiasm for sectors including artificial intelligence infrastructure, cloud services, digital commerce, and platform-based business models.
Pershing Square Initiates Microsoft Position While Berkshire Expands Alphabet Holdings
During the opening quarter, Bill Ackman’s Pershing Square Capital Management established an entirely new stake in Microsoft. Reuters reported that Ackman entered the position following a stock decline that made the valuation more compelling.
Concurrently, Pershing Square completely divested its Alphabet holdings. This represents a straightforward reallocation between two dominant forces in AI and cloud infrastructure.
Microsoft offers investors exposure to Azure cloud services, its strategic collaboration with OpenAI, GitHub development tools, and Microsoft 365 Copilot capabilities. These elements form the core of the AI narrative capturing investor attention throughout 2026.
Berkshire Hathaway pursued the inverse strategy. Warren Buffett’s conglomerate dramatically increased its Alphabet position from approximately 18 million shares to 58 million shares. Barron’s estimated this holding at around $16.6 billion in value.
This substantial expansion signals strong conviction in Google Search dominance, YouTube’s market position, and Alphabet’s cloud computing and AI capabilities. The contrasting approaches between Ackman and Buffett demonstrate that even sophisticated institutional investors maintain divergent views on which AI leader will ultimately prevail.
Delta Air Lines Marks Berkshire’s Surprising Airline Sector Re-Entry
Among the quarter’s most noteworthy developments was Berkshire Hathaway’s establishment of a new Delta Air Lines position valued at approximately $2.65 billion according to Reuters, with Barron’s placing the figure nearer to $3 billion.
This move represents a significant strategic pivot. Berkshire had withdrawn from airline investments following pandemic-related disruptions. Re-entering this sector through Delta constitutes a contrarian position considering elevated fuel expenses and economic headwinds affecting travel demand.
Delta stands as America’s largest airline measured by revenue and has strategically emphasized premium cabin offerings and loyalty program enhancements to protect profit margins.
Multiple Investment Firms Increase Amazon and Uber Exposure
Amazon drew capital from two prominent investment managers. David Tepper’s Appaloosa Management purchased 2.1 million additional Amazon shares, elevating it to the fund’s top position at roughly $900 million. Meanwhile, Pershing Square expanded its Amazon stake by 19%.
Berkshire reduced its Amazon holdings during this identical timeframe. Nevertheless, the accumulation by both Tepper and Ackman ensures Amazon remains among the quarter’s most closely monitored institutional positions.
Uber completed the group of five heavily purchased stocks. Appaloosa acquired approximately 4.5 million additional shares, pushing its total Uber position to around $455 million. Pershing Square also maintained Uber as a significant portfolio component.
Uber attracts institutional capital because its business model integrates ride-sharing services, restaurant delivery operations, advertising revenue streams, and progressively strengthening profitability metrics.
Collectively, these five equities — Microsoft, Alphabet, Delta, Amazon, and Uber — illustrate where institutional capital flowed as 2026 commenced.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
