Berkshire Hathaway Delta Stake Signals Shift Under Abel
Berkshire Hathaway Delta stake in a 13F for March 31, 2026 shows a $2.65 billion Delta holding and larger Alphabet stake, reshaping airline and tech flows.
KEY TAKEAWAYS
- Form 13F reported a new $2.7 billion Delta stake and a small Macy's position.
- Berkshire nearly tripled its Alphabet Class C holding to nearly 58 million shares.
- Moves indicate an early portfolio reweighting under CEO Greg Abel.
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Berkshire Hathaway Inc.’s (BRK-A, BRK-B) Delta stake disclosed in its Form 13F for the quarter ended March 31, 2026 shows the company opened a new position in Delta Air Lines while exiting Amazon, Visa, Mastercard, and UnitedHealth and markedly increasing its Alphabet holding.
13F Reveals New Delta and Alphabet Positions
Berkshire’s Form 13F-HR filing, submitted May 15, discloses its long U.S.-listed equity holdings as of March 31, 2026. The filing shows a new long position in Delta Air Lines valued at $2.65 billion. It also reveals a smaller new stake in Macy’s and the absence of positions in Amazon.com, Mastercard, Visa, and UnitedHealth Group at quarter-end.
The filing indicates Berkshire nearly tripled its Alphabet Class C shares to nearly 58 million from about 18 million at year-end 2025. These moves reflect a significant reshaping of Berkshire’s large-cap portfolio.
Leadership Change and Regulatory Context
The first quarter of 2026 marks Greg Abel’s initial full quarter as Berkshire Hathaway’s CEO for stock-picking disclosures. The portfolio changes combine a return to U.S. airlines with a substantial reweighting toward Alphabet, altering the company’s sector exposure at quarter-end.
Form 13F filings are backward-looking disclosures required by the SEC that report long U.S.-listed equity holdings. They exclude derivatives, certain foreign-listed securities, and short positions, and do not provide forward-looking guidance or regulatory approval. The filing reflects Berkshire’s holdings as of March 31, 2026, rather than corporate strategy or plans.
The new Delta stake reverses Warren Buffett’s 2020 exit from U.S. airlines and, together with the enlarged Alphabet position, signals an early portfolio rebalancing under Abel’s leadership. Berkshire also exited several prior holdings, including Amazon, Mastercard, Visa, and UnitedHealth, reshaping its sector mix.
No regulatory filings indicate Berkshire crossed ownership thresholds in Delta that would require additional disclosures. The stakes appear to be passive investments without control or merger filings.
The filing does not include formal earnings or capital allocation guidance from Berkshire or the companies involved. Delta and Macy’s have not issued statements regarding Berkshire’s new positions.
