MarketMoodz
Berkshire’s Portfolio Overhauled: Delta and Macy’s Added, Alphabet Surges
Berkshire Hathaway’s latest 13F shows a sweeping rework of its public-equity holdings: new positions in Delta Air Lines and Macy’s, a 224% increase in Alphabet to roughly $16.6 billion, and large cuts to Chevron, Amazon, UnitedHealth and other names. The trading pattern aligns with moves credited to Greg Abel — Berkshire’s vice chairman and head of non‑insurance operations — though attribution to a single manager is not confirmed by the filings.
Key Takeaways
- Berkshire initiated a stake in Delta Air Lines: 39.8 million shares valued at about $2.8 billion in the quarter.
- Alphabet stake rose 224% in Q1 to roughly $16.6 billion, becoming Berkshire’s seventh‑largest holding by reported value.
- New or expanded position in Macy’s increased to 15.1 million shares; the filing shows a modest book value compared with larger holdings.
- Largest reductions included Chevron (about a 35% cut), a ~95% reduction in Constellation Brands and full exits from Visa, Mastercard, UnitedHealth, Domino’s, Aon, Pool Corp and Amazon.
- Bank of America was trimmed by less than 1% and the Apple position was left largely unchanged amid the reshuffle.
People Involved
- Greg AbelBerkshire Hathaway Vice Chairman and head of non‑insurance operations
- Warren BuffettBerkshire Hathaway Chairman and CEO
- Todd CombsBerkshire Hathaway investment portfolio manager
Entities Involved
- Berkshire Hathaway (BRK.A / BRK.B)Investor — disclosed changes in 13F filing
- Alphabet Inc. (GOOGL)Stake increased by 224% to ~ $16.6 billion
- Delta Air Lines (DAL)New position initiated — 39.8 million shares (~$2.8 billion)
- Macy's Inc. (M)Position increased to 15.1 million shares
- The New York Times Company (NYT)Reported stake increase (tripled to 15.1M shares in filings)
- Chevron Corporation (CVX)Largest reduction in Q1 — cut by ~35%
- Constellation Brands (STZ)Position cut by about 95%, effectively eliminated
- Visa Inc. (V)Position eliminated
- Mastercard Inc. (MA)Position eliminated
- UnitedHealth Group (UNH)Position eliminated
- Domino's Pizza (DPZ)Position eliminated
- Aon plc (AON)Position eliminated
- Pool Corporation (POOL)Position eliminated
- Amazon.com, Inc. (AMZN)Position eliminated
- Bank of America (BAC)Minor trim — less than 1% reduction
- Apple Inc. (AAPL)Position left largely unchanged
MarketMoodz Analysis
For investors, the filing signals a visible shift in Berkshire’s public‑equity posture: heavier exposure to mega‑cap tech via a much larger Alphabet stake and a selective reentry into travel with the Delta position. A 224% increase in Alphabet to about $16.6 billion moves the holding into the firm’s top ten by reported value, concentrating more capital in a single high‑growth technology platform — a clear tilt away from the energy and insurance‑linked exposures Berkshire has held historically.
The portfolio pruning matters because Berkshire’s moves often influence market sentiment for large caps. Cutting roughly 35% of its Chevron stake and nearly eliminating Constellation Brands while exiting a slate of financials and healthcare names signals either profit‑taking after prior gains or a tactical reallocation to faster‑growing opportunities. The Delta purchase — reported at 39.8 million shares — is Berkshire’s first sizeable airline position reported since its major airline exposures were wound down in 2020, and it reflects renewed confidence in travel demand recovery.
Read the filing with caution: 13F snapshots lag the market, don’t show derivatives or intraday trades, and don’t disclose who made each trade. Multiple Berkshire portfolio managers operate with discretion, so attributing the overhaul solely to Greg Abel risks oversimplifying. Watch for follow‑up signals: Berkshire’s next 13F, any comment in shareholder letters, and short‑term price reactions in Alphabet, Delta, Macy’s and Chevron — those moves will reveal whether this is a long‑term repositioning or a portfolio rebalance.
Source: Original Article