Adjustments to Berkshire Hathaway's investment portfolio drove gains for certain stocks on Monday, as investors analyzed the latest purchases and exits disclosed by the conglomerate in its quarterly filing.
The company revealed its equity holdings as of the end of the quarter in a regulatory filing on Friday, offering the first glimpse into its portfolio under the leadership of new CEO Greg Abel.
One of the most significant moves in the latest filing was a substantial new position in Delta Air Lines. Berkshire Hathaway acquired 39.8 million shares of Delta Air Lines, valued at $2.6 billion as of the end of March, making it the company's 14th largest holding at that time. Shares of Delta Air Lines rose more than 3% on Monday.
This purchase of Delta Air Lines marks Berkshire Hathaway's return to the airline industry. Six years ago, Warren Buffett shocked the market by liquidating Berkshire's entire portfolio of U.S. airline stocks, selling over $4 billion worth of shares in United Airlines, American Airlines, Southwest Airlines, and Delta Air Lines. Buffett believed at the time that the pandemic had permanently altered consumer habits and travel demand.
Berkshire Hathaway also established a new position in Macy's last quarter. After it was disclosed that Berkshire held a new stake worth approximately $55 million as of the end of the first quarter, the department store's shares rose over 2% on Monday. For Berkshire Hathaway, this position is very small, leading many to speculate that it was purchased by investment deputy Ted Weschler, who manages about 6% of the portfolio.
Meanwhile, the Omaha-based conglomerate significantly increased its relatively new position in Alphabet, the parent company of Google, making it Berkshire's seventh largest holding. Among its largest holdings, the company reduced its stake in Chevron.
Berkshire Hathaway sold a series of stocks last quarter, likely to unwind positions associated with Todd Combs. Combs left Berkshire at the end of 2025 to join JPMorgan Chase. He was personally recruited by Buffett to manage Berkshire's stock portfolio alongside Weschler.
Notable sales included Mastercard and Visa, two stocks Combs invested in early on, reflecting the holdings of his former hedge fund; additionally, Berkshire completely exited its position in Amazon, a stock also widely believed to be linked to Combs.
Other stocks sold by Berkshire included UnitedHealth Group, Aon, Pool Corporation, Domino's Pizza, and Charter Communications.
Abel, who was in the spotlight earlier this month at Berkshire's annual shareholder meeting, stated that he still consults with the 95-year-old Buffett on investment decisions.
"He's in the office every day, so if I'm in Omaha, we talk every day," Abel said in March. "If I'm traveling, like I was yesterday, I often call him just to get his perspective on what he's seeing, hearing, and my own thoughts. We connect every few days if not daily."