Berkshire Hathaway's Portfolio Update Raises Questions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Source: CNBC
- Portfolio Adjustment: Berkshire Hathaway's latest SEC 13F filing reveals a significant reduction in the number of stocks, indicating that new CEO Greg Abel may sell many of the stocks previously managed by Todd Combs, a change that, while unexpected, was not entirely surprising.
- Delta Airlines Reinvestment: Buffett's reinvestment in Delta Airlines after a six-year hiatus sees the holding's value increase from $2.6 billion to $3.0 billion, reflecting a 14.5% rise, showcasing Abel's early fondness for airline stocks, despite Buffett's non-involvement in this decision.
- Macy's Minor Stake: Buffett's investment in Macy's has grown from $55 million to $63 million, a 14.2% increase, although this position accounts for less than 0.02% of Berkshire's portfolio, indicating Buffett's ongoing interest in bargain-priced stocks and potential investment opportunities.
- Expansion in Japan: Berkshire continues to increase its stakes in Japan, with Mitsubishi's holding rising from 9.7% to 11.1% and Sumitomo's from 9.3% to 10.3%, suggesting that Abel's investment strategy in Japan is deepening, with the total value of six stocks nearing $46 billion.
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Analyst Views on DAL
Wall Street analysts forecast DAL stock price to rise
18 Analyst Rating
18 Buy
0 Hold
0 Sell
Strong Buy
Current: 75.650
Low
77.00
Averages
83.50
High
90.00
Current: 75.650
Low
77.00
Averages
83.50
High
90.00
About DAL
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company has hubs and markets in Amsterdam, Atlanta, Bogota, Boston, Detroit, Lima, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St. Paul, New York-JFK and LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Santiago (Chile), Sao Paulo, Seattle, Seoul-Incheon, and Tokyo. Its segments include Airline and Refinery. Its airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and includes its loyalty program, as well as other ancillary businesses. Its refinery segment operates for the benefit of the airline segment by providing jet fuel to the airline segment from its own production and through jet fuel obtained through agreements with third parties. The refinery's production consists of jet fuel as well as non-jet fuel products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Delta Airlines Investment: Berkshire now owns 6.1% of Delta Airlines, valued at nearly $3 billion, marking a notable shift in the company's perspective on the airline industry, especially following the pandemic's impact in 2020.
- Stable Long-term Holdings: Despite the recent sell-offs, Berkshire retains long-term investments in companies like Coca-Cola and Apple, reflecting Abel's cautious approach to maintaining core assets aimed at ensuring stable revenue streams for the company.
- Optimistic Industry Outlook: As the U.S. airline industry sustains demand through premiumization amid high inflation and rising fuel costs, Abel and Buffett may believe that Delta has developed a durable competitive advantage, showcasing confidence in future growth prospects.
See More
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- Small Position Sell-Off: In the first quarter, Abel and his team sold out of 16 smaller positions, including Visa and Mastercard, which accounted for about a third of Berkshire's total holdings, demonstrating decisive action in optimizing the investment portfolio.
- Core Holdings Retained: Despite the significant sell-off, Abel retained core holdings such as Apple, American Express, and Coca-Cola, reflecting his respect for and continuation of the company's traditional investment strategies established by Buffett.
- Positive Market Reaction: Following the announcement of Abel's investment strategy, Berkshire Hathaway's stock ticked higher, reflecting market confidence in his management capabilities and further solidifying the company's position in the investment community.
See More
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- Portfolio Restructuring: Greg Abel cut 16 small positions in the first quarter, including long-held Visa and Mastercard, demonstrating a strategic focus on concentrated high-conviction stocks while maintaining Buffett's traditional investment style.
- New Investment Directions: Abel added positions in Delta Airlines and Macy's, and tripled the investment in Alphabet, indicating a strategy aligned with Buffett's tech stock preferences, which may attract younger investors.
- Increased Concentration: Excluding investments in Japan, Berkshire now holds only 29 positions, retaining Buffett favorites like Apple, American Express, and Coca-Cola, reflecting ongoing confidence in classic quality assets.
- Positive Market Reaction: Despite the reduction of about one-third of the portfolio, Berkshire's stock price rose following the announcement, indicating market approval of Abel's investment strategy and suggesting optimistic expectations for future performance.
See More
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- Return to Airline Stocks: After famously selling all airline stocks in 2020 due to the pandemic, Berkshire has now re-entered Delta Airlines, acquiring a 6.1% stake valued at nearly $3 billion, indicating a renewed confidence in the airline sector's recovery.
- Stable Long-term Holdings: While Abel has made notable adjustments to the portfolio, long-term investments in companies like Coca-Cola and Apple remain intact, underscoring the company's commitment to its core assets and long-term investment philosophy.
- Competitive Advantage in Industry: As the U.S. airline industry adapts to challenges like high inflation and rising fuel costs by tapping into premiumization trends, Abel and Buffett may believe that Delta has developed a sustainable competitive advantage, reflecting a positive outlook on the airline's future prospects.
See More
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- Increased Stake in Delta Airlines: Abel purchased 39.8 million shares of Delta Air Lines worth $2.8 billion in Q1, a position that constitutes about 1% of the total portfolio, reflecting his willingness to take risks that Buffett avoided.
- Tripled Stake in Alphabet: Berkshire tripled its investment in Alphabet's A shares to $54.2 billion during Q1, now valued at $23 billion, making it the seventh-largest holding, showcasing Abel's confidence in technology stocks contrary to Buffett's previous hesitance.
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See More
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- Aviation Stock Acquisition: Berkshire purchased 39.8 million shares of Delta Air Lines worth approximately $2.8 billion last quarter, which is only about 1% of its total portfolio, yet the investment has shown promise as Delta's stock has rebounded since the March pullback due to geopolitical tensions.
- Increased Tech Holdings: In Q1, Berkshire tripled its stake in Alphabet's A shares to 54.2 billion, now valued at $23 billion, making it the company's seventh-largest holding, reflecting the new management's increased confidence in technology stocks.
- Exit from Minor Positions: The company completely exited 16 minor positions, including Pool Corp, UnitedHealth, and Amazon, during Q1, aiming to streamline its portfolio and allow the management team to focus on more strategically significant trades.
See More
Berkshire Hathaway's Portfolio Changes Under Greg Abel
- Portfolio Adjustment: Under Greg Abel's leadership, Berkshire Hathaway has made significant changes to its portfolio, cashing out of long-term holdings like Visa while reinvesting in Delta Airlines, indicating a renewed confidence in the airline sector.
- Delta Airlines Investment: Berkshire now owns 6.1% of Delta Airlines, valued at nearly $3 billion, marking a notable shift in the company's perspective on the airline industry, especially following the pandemic's impact in 2020.
- Stable Long-term Holdings: Despite the recent sell-offs, Berkshire retains long-term investments in companies like Coca-Cola and Apple, reflecting Abel's cautious approach to maintaining core assets aimed at ensuring stable revenue streams for the company.
- Optimistic Industry Outlook: As the U.S. airline industry sustains demand through premiumization amid high inflation and rising fuel costs, Abel and Buffett may believe that Delta has developed a durable competitive advantage, showcasing confidence in future growth prospects.
See More
Greg Abel's First Quarter Report Reveals Investment Strategy
- Portfolio Adjustments: In his first quarterly report, Abel adjusted the $330 billion equity portfolio by adding positions in Delta Airlines and Macy's, while tripling the stake in Alphabet, indicating his proactive approach to high-conviction stocks while maintaining Buffett's investment style.
- Small Position Sell-Off: In the first quarter, Abel and his team sold out of 16 smaller positions, including Visa and Mastercard, which accounted for about a third of Berkshire's total holdings, demonstrating decisive action in optimizing the investment portfolio.
- Core Holdings Retained: Despite the significant sell-off, Abel retained core holdings such as Apple, American Express, and Coca-Cola, reflecting his respect for and continuation of the company's traditional investment strategies established by Buffett.
- Positive Market Reaction: Following the announcement of Abel's investment strategy, Berkshire Hathaway's stock ticked higher, reflecting market confidence in his management capabilities and further solidifying the company's position in the investment community.
See More
Berkshire Hathaway's Abel Restructures Equity Portfolio
- Portfolio Restructuring: Greg Abel cut 16 small positions in the first quarter, including long-held Visa and Mastercard, demonstrating a strategic focus on concentrated high-conviction stocks while maintaining Buffett's traditional investment style.
- New Investment Directions: Abel added positions in Delta Airlines and Macy's, and tripled the investment in Alphabet, indicating a strategy aligned with Buffett's tech stock preferences, which may attract younger investors.
- Increased Concentration: Excluding investments in Japan, Berkshire now holds only 29 positions, retaining Buffett favorites like Apple, American Express, and Coca-Cola, reflecting ongoing confidence in classic quality assets.
- Positive Market Reaction: Despite the reduction of about one-third of the portfolio, Berkshire's stock price rose following the announcement, indicating market approval of Abel's investment strategy and suggesting optimistic expectations for future performance.
See More
Berkshire Hathaway Reinvests in Delta Airlines Under Abel's Leadership
- Portfolio Changes: Berkshire Hathaway's latest 13-F filing reveals significant shifts in its U.S. stock holdings since Greg Abel took over as CEO in early 2026, highlighting a strategic pivot that has caught market attention.
- Return to Airline Stocks: After famously selling all airline stocks in 2020 due to the pandemic, Berkshire has now re-entered Delta Airlines, acquiring a 6.1% stake valued at nearly $3 billion, indicating a renewed confidence in the airline sector's recovery.
- Stable Long-term Holdings: While Abel has made notable adjustments to the portfolio, long-term investments in companies like Coca-Cola and Apple remain intact, underscoring the company's commitment to its core assets and long-term investment philosophy.
- Competitive Advantage in Industry: As the U.S. airline industry adapts to challenges like high inflation and rising fuel costs by tapping into premiumization trends, Abel and Buffett may believe that Delta has developed a sustainable competitive advantage, reflecting a positive outlook on the airline's future prospects.
See More
Greg Abel Reshapes Berkshire Hathaway's Investment Portfolio
- Complete Exit from Credit Card Stocks: In Q1, Berkshire Hathaway sold its entire 8.3 million share stake in Visa and all holdings in Mastercard, which represented only 1% of its portfolio, indicating new CEO Greg Abel's cautious stance on the credit card sector.
- Increased Stake in Delta Airlines: Abel purchased 39.8 million shares of Delta Air Lines worth $2.8 billion in Q1, a position that constitutes about 1% of the total portfolio, reflecting his willingness to take risks that Buffett avoided.
- Tripled Stake in Alphabet: Berkshire tripled its investment in Alphabet's A shares to $54.2 billion during Q1, now valued at $23 billion, making it the seventh-largest holding, showcasing Abel's confidence in technology stocks contrary to Buffett's previous hesitance.
- Clearing Small Positions: In Q1, Abel exited 16 minor positions, including Pool Corp, UnitedHealth, and Amazon, aiming to streamline the investment portfolio and allow the management team to focus on more significant trades.
See More
Berkshire's New Management Reshapes Portfolio
- Portfolio Restructuring: Under new CEO Greg Abel, Berkshire Hathaway sold its entire 8.3 million shares of Visa and all Mastercard holdings in Q1, which represented about 1% of its total portfolio, indicating a cautious stance towards the credit card sector.
- Aviation Stock Acquisition: Berkshire purchased 39.8 million shares of Delta Air Lines worth approximately $2.8 billion last quarter, which is only about 1% of its total portfolio, yet the investment has shown promise as Delta's stock has rebounded since the March pullback due to geopolitical tensions.
- Increased Tech Holdings: In Q1, Berkshire tripled its stake in Alphabet's A shares to 54.2 billion, now valued at $23 billion, making it the company's seventh-largest holding, reflecting the new management's increased confidence in technology stocks.
- Exit from Minor Positions: The company completely exited 16 minor positions, including Pool Corp, UnitedHealth, and Amazon, during Q1, aiming to streamline its portfolio and allow the management team to focus on more strategically significant trades.
See More
