Berkshire Hathaway revealed major changes to its investment portfolio, including a new multibillion dollar stake in Delta Air Lines and a much larger investment in Alphabet. The company also bought a smaller stake in Macy’s.
At the same time, Berkshire sold several well-known holdings, including shares in Amazon, UnitedHealth Group, Visa, and Mastercard. The moves come after Greg Abel officially took over as chief executive, succeeding legendary investor Warren Buffett.
Berkshire’s new Delta investment marks a return to the airline industry after it sold airline stocks during the pandemic. Investors appeared to welcome the move, sending Delta shares higher after the announcement. Macy’s stock also climbed following news of Berkshire’s investment.
The company also reduced its stake in Chevron but kept it among its largest holdings. Berkshire’s biggest investments still include companies like Apple, American Express, and Coca-Cola.
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