Warren Buffett and Greg Abel during Berkshire Hathaway’s annual meeting on May 4, 2024 in Omaha, Nebraska.
CNBC
Berkshire Hathaway added significant participation Delta Air LinesThis marks the conglomerate’s return to the aviation industry after completely withdrawing from the sector during the Covid-19 pandemic in 2020.
The Omaha-based company built a position worth more than $2.6 billion and was Delta Berkshire’s 14th-largest holding, according to a new regulatory filing at the end of March.
Warren Buffett stunned investors six years ago when he sold Berkshire’s entire stock portfolio in U.S. airlines, including shares worth more than $4 billion United, American, southwest and Delta Air Lines. Buffett said at the time that the pandemic had fundamentally changed consumer behavior and travel habits.
Among Berkshire’s largest holdings, the company reduced its stake in Chevron over the course of the quarter and at the same time significantly expanded its relatively new position in alphabet. The Google parent company is now Berkshire’s seventh-largest holding.
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Berkshire also opened a small position in Macy’swhich was worth around $55 million at the end of the first quarter.
Dissolution of Todd Combs’ positions
Meanwhile, the conglomerate sold a number of stocks last quarter, likely as part of an effort to unwind positions related to the late Lt. Todd Combs.
The long-time investment manager and Geico boss moved to JPMorgan at the end of 2025. Combs was one of two portfolio managers Buffett hired to help oversee Berkshire’s stock portfolio. Ted Weschler, the other investment manager, continues to manage about 6% of the holdings.
Some of the most notable sales included MasterCard And visathe first stocks Combs bought after joining Berkshire, and positions that reflected large holdings from his former hedge fund Castle Point Capital.
The conglomerate also exited completely Amazon after reducing the position late last year. The investment has long been viewed by some investors as a bet driven by Combs.
Other stocks sold by Berkshire are included UnitedHealth Group, Aeon, Pool Corporation, Domino’s Pizza And Charter communication.
Not an ideal environment
Buffett, who stepped down as CEO after more than six decades at the helm, remains chairman of the Omaha, Nebraska-based company and continues to come to the office five days a week.
New CEO Greg Abel said he was advising the 95-year-old Buffett on investments and capital allocation, including the recent resumption of buybacks in the first quarter.
Buffett recently admitted he was unhappy with the investment environment as Berkshire’s cash pile swells to a record nearly $400 billion.
“It’s not our ideal environment – or environment, I should say – in terms of deploying cash for Berkshire,” the former CEO said.
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