Berkshire Hathaway (BRK.A) Makes Bold Moves: Delta Investment and Alphabet Expansion in Q1 2026

Key Highlights

• Berkshire Hathaway revealed a $2.65 billion investment in Delta Air Lines, marking its first airline investment since exiting the sector in April 2020
• The conglomerate increased its Alphabet holdings more than threefold to approximately 58 million shares, valued at roughly $17 billion
• Under Greg Abel’s leadership as CEO, Berkshire divested from Visa, Mastercard, Amazon, UnitedHealth, and Domino’s Pizza
• During Q1 2026, Berkshire acquired $15.94 billion worth of equities while divesting $24.09 billion
• The portfolio restructuring included new or expanded positions in Macy’s and New York Times

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Berkshire Hathaway has executed a significant portfolio transformation during the first quarter of 2026, highlighted by a notable reentry into the airline sector and a substantial expansion of its Google parent company holdings, per a Friday regulatory disclosure.

These strategic shifts occurred during Greg Abel’s inaugural quarter as Chief Executive Officer, having succeeded Warren Buffett on January 1.

Airline Sector Comeback with Delta Investment

Berkshire acquired a 6.1% ownership position in Delta Air Lines, totaling 39.8 million shares valued at $2.65 billion at the end of March. This investment represents Berkshire’s first airline sector exposure in six years.

Delta Air Lines, Inc., DAL

Buffett had previously liquidated Berkshire’s entire airline portfolio—including Delta, American Airlines, Southwest, and United Airlines—in April 2020 during the early stages of the COVID-19 pandemic. His rationale centered on fundamental shifts affecting the aviation sector’s future.

Following the announcement, Delta’s stock price climbed 3.3% during extended trading hours.

Delta has emerged as a leading performer among major U.S. carriers. The airline has capitalized on recovering travel demand following the pandemic, although the industry continues grappling with elevated fuel expenses.

Significant Expansion of Google Parent Company Holdings

Berkshire dramatically expanded its investment in Alphabet, Google’s parent entity, increasing its position from approximately 18 million shares to nearly 58 million shares. This holding now represents about $17 billion in value, positioning it among Berkshire’s most substantial equity investments.

The company had maintained a stable Alphabet position throughout Q4 2025, which represented Buffett’s final complete quarter as CEO.

Portfolio Exits Under New Leadership

Abel orchestrated the complete divestiture of multiple positions, many associated with former investment executive Todd Combs, who departed Berkshire in December 2025 for a role at JPMorgan Chase.

Berkshire completely exited its holdings in Visa, Mastercard, Amazon, UnitedHealth, Domino’s Pizza, Aon, Charter, Diageo, and Pool Corp.

Additionally, the company reduced its Chevron position by 35%, though the energy giant remains among Berkshire’s top five equity holdings.

New Portfolio Entries

Among new acquisitions, 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 following the disclosure.

The company also substantially increased its New York Times investment, approximately tripling the position to around 15 million shares worth roughly $1.3 billion.

In February, Abel disclosed that he directly manages 94% of Berkshire’s equity portfolio, with investment manager Ted Weschler overseeing the remaining 6%.

As of March 31, Berkshire’s complete equity portfolio totaled $288 billion in value.

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