Berkshire Hathaway (BRK.A) disclosed a $2.6 billion stake in Delta Air Lines, marking a return to the airline sector years after Warren Buffett exited the industry during the Covid-19 pandemic, Bloomberg reported on Friday.

The conglomerate held 39.8 million Delta shares at the end of March, equal to a 6.1% stake. Delta shares rose more than 3% in late trading following the filing.

The investment comes as airlines face higher fuel costs tied to tensions in the Middle East and disruptions around the Strait of Hormuz. Bloomberg said the filing is the first under Chief Executive Officer Greg Abel, who succeeded Buffett earlier this year.

Berkshire also increased its stake in Alphabet while exiting positions in Amazon, Visa, Mastercard, UnitedHealth, Diageo, Pool Corp. and Domino's Pizza. The company also disclosed a new position in Macy's.