Berkshire Hathaway's Strategic Moves: Delta Investment, Portfolio Adjustments, and Leadership Transition
Berkshire Hathaway has made a significant move by acquiring a substantial stake in Delta Air Lines, re-entering the airline industry after completely exiting it during the Covid-19 pandemic in 2020. The conglomerate's investment in Delta is valued at over $2.6 billion, making it one of Berkshire's top holdings as of March. This decision marks a shift from Warren Buffett's previous move to sell off all U.S. airline stocks in response to the pandemic's impact on travel behavior.
In addition to the Delta investment, Berkshire Hathaway made adjustments to its portfolio during the quarter. The company reduced its stake in Chevron while increasing its position in Alphabet, now ranking as the seventh-largest holding. Berkshire also initiated a small investment in Macy's, valued at around $55 million by the end of the first quarter.
As part of portfolio adjustments, Berkshire sold off several stocks, possibly related to the departure of investment manager Todd Combs. Combs, who left for JPMorgan in 2025, had been overseeing a portion of Berkshire's equity portfolio alongside Ted Weschler. The conglomerate divested holdings in Mastercard, Visa, Amazon, UnitedHealth Group, Aon, Pool Corporation, Domino's Pizza, and Charter Communications.
Despite Warren Buffett stepping down as CEO, he remains actively involved in Berkshire Hathaway as chairman, consulting with new CEO Greg Abel on investment decisions and capital allocation. The company resumed buybacks in the first quarter under Abel's leadership, reflecting ongoing strategic moves within the conglomerate.