Key Highlights
- Berkshire Hathaway initiated a $2.65 billion position in Delta Air Lines, marking its first airline investment since exiting the sector in April 2020
- The investment giant expanded its Alphabet holdings to nearly 58 million shares, representing approximately $17 billion in value
- New CEO Greg Abel divested positions in Visa, Mastercard, Amazon, UnitedHealth, and Domino’s Pizza during the quarter
- The conglomerate purchased $15.94 billion worth of equities while divesting $24.09 billion in Q1 2026
- Macy’s and New York Times received new investments or increased positions in the portfolio transformation
Berkshire Hathaway has executed a significant portfolio transformation during Q1 2026, highlighted by a notable re-entry into the airline sector and a substantial expansion of its technology holdings, according to Friday’s regulatory disclosure.
These strategic moves represent the initial major decisions under Greg Abel’s leadership, who assumed the CEO position from Warren Buffett on January 1.
Delta Air Lines Makes Berkshire Portfolio Comeback
The investment conglomerate acquired a 6.1% ownership position in Delta Air Lines, totaling 39.8 million shares valued at $2.65 billion at quarter-end. This investment signals Berkshire’s first foray back into airline equities after a six-year hiatus.
Buffett previously liquidated Berkshire’s entire airline portfolio—including Delta, American Airlines, Southwest, and United Airlines—in April 2020, during the early stages of the pandemic. At that time, he declared that the aviation sector’s landscape had fundamentally shifted.
Delta’s stock price climbed 3.3% in extended trading following the announcement.
Delta has established itself as a premier operator among major U.S. carriers. The airline has capitalized on the robust recovery in passenger travel following the pandemic, despite industry-wide challenges from escalating fuel expenses.
Massive Expansion of Google Parent Company Holdings
Berkshire significantly increased its investment in Alphabet, Google’s parent entity, expanding from approximately 18 million shares to nearly 58 million shares. This position now commands roughly $17 billion in value, ranking among Berkshire’s most substantial equity investments.
The company maintained a static Alphabet position throughout Q4 2025, which represented Buffett’s final complete quarter at the helm.
Portfolio Exits Under New Leadership
Abel executed complete exits from multiple positions previously associated with former investment manager Todd Combs, who departed Berkshire in December 2025 to join JPMorgan Chase.
The conglomerate eliminated its holdings in Visa, Mastercard, Amazon, UnitedHealth, Domino’s Pizza, Aon, Charter, Diageo, and Pool Corp.
Additionally, Berkshire reduced its Chevron position by 35%, although the energy company continues to rank as the firm’s fifth-largest equity holding.
New Portfolio Additions
Among new purchases, Berkshire established a 3-million-share position in Macy’s valued at $55 million. The department store’s shares surged 6.3% in after-hours trading.
The investment firm also approximately tripled its New York Times holdings, expanding to roughly 15 million shares with a market value of about $1.3 billion.
Abel disclosed in February that he directly manages 94% of Berkshire’s equity investments, while investment manager Ted Weschler oversees the remaining 6%.
Berkshire’s aggregate equity portfolio reached $288 billion as of March 31.
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