Key Takeaways
- CEO Greg Abel completely divested Berkshire’s Visa and Mastercard positions in Q1 2026
- The conglomerate acquired 39.8 million shares of Delta Air Lines, creating a $2.8 billion stake
- Alphabet holdings grew threefold to 54.2 million Class A shares valued at $23 billion
- Sixteen smaller holdings were eliminated, including Pool Corp, UnitedHealth, and Amazon
- Apple continues to dominate as the top holding, representing 20.7% of the $330 billion portfolio
Greg Abel, Berkshire Hathaway’s newly appointed CEO, moved swiftly to reconfigure the investment giant’s $330 billion equity portfolio during Q1 2026. These strategic adjustments mark a distinct departure from the investment philosophy of Warren Buffett, his legendary predecessor.
In a surprising move, Abel liquidated Berkshire’s complete 8.3 million-share position in Visa along with its entire Mastercard stake. While both investments were relatively modest — each accounting for roughly 1% of total holdings — the complete withdrawal signals Abel’s current stance on the credit card processing industry.
Notably, American Express remained completely untouched in the portfolio. This payment company now stands as Berkshire’s second-most valuable investment at $47 billion.
A Return to the Airline Industry
Warren Buffett made headlines when he liquidated approximately $4 billion in airline investments during the early months of 2020 as COVID-19 devastated the travel sector. He maintained that position until his retirement. Abel chose a different path.
During the first quarter of 2026, Berkshire accumulated 39.8 million shares of Delta Air Lines (DAL), establishing a position currently valued at $2.8 billion. The investment was initiated when DAL shares were trading at depressed valuations. Since Berkshire’s entry, the stock price has appreciated. While representing approximately 1% of the overall portfolio, the investment demonstrates meaningful commitment.
This decision illustrates Abel’s readiness to pursue opportunities that Buffett deliberately avoided.
Massive Expansion in Alphabet Holdings
Berkshire maintained a modest Alphabet (GOOGL) stake entering 2026. Abel dramatically expanded it. The investment vehicle now controls 54.2 million Class A shares worth $23 billion, elevating Alphabet to the seventh-largest position in the portfolio. Additionally, Berkshire purchased 3.6 million Class C shares valued at approximately $1 billion.
GOOGL shares are currently priced around $383, showing a decline of roughly 1.2% in today’s trading session.
Buffett was notably reluctant to embrace technology investments throughout much of his career. Abel demonstrates no such reservations.
Alphabet has strategically deployed artificial intelligence to strengthen and expand its core operations. Google Search generated $60.4 billion in Q1 2026 revenue, representing a 19% year-over-year jump — marking the fourth consecutive quarter of accelerating growth. Innovations like AI Overviews and AI Mode have been instrumental in driving this performance.
Apple Maintains Dominant Position
Apple continues as Berkshire’s largest equity investment at 20.7% of total holdings, despite Buffett having sold approximately three-quarters of the stake throughout 2024 and 2025. Those sales were executed to mitigate concentration risk and capture profits after the position ballooned beyond $170 billion at its height.
In earlier statements to CNBC this year, Buffett expressed satisfaction with Apple’s status as the portfolio’s largest component and suggested openness to increasing the stake if valuations become attractive.
Coca-Cola maintains its position as another significant holding with AI connections. It comprises 9.9% of the portfolio and distributed $816 million in dividend payments to Berkshire last year.
Abel also initiated a broad cleanup, exiting 16 smaller positions that contributed minimally to overall portfolio returns. Eliminated holdings included recently acquired Pool Corp, UnitedHealth, and Amazon. This consolidation suggests an effort to reduce complexity and sharpen strategic focus.
As the first quarter of 2026 concluded, three AI-connected companies — Apple, Alphabet, and Coca-Cola — collectively represent 37.4% of Berkshire’s entire investment portfolio.
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