MarketMoodz
Abel’s Berkshire Overhauls Portfolio: Big Bets on Delta, Alphabet
Berkshire Hathaway has overhauled its U.S. stock portfolio under new CEO Greg Abel, adding a $2.6 billion stake in Delta and dramatically increasing its Alphabet position. The quarterly filing also shows a new Macy’s holding and big trims to Chevron, Mastercard and Visa as the firm reshapes sector exposure and risk under fresh leadership.
Key Takeaways
- Berkshire holds 39.8 million Delta Air Lines shares worth about $2.6 billion, its 14th-largest stake at end-March.
- Alphabet stake rose to roughly 58 million shares—a 224% increase—making it Berkshire’s seventh-largest holding.
- Berkshire opened a new position in Macy’s and increased selective consumer and tech exposure.
- Chevron position was reduced about 35%, including roughly $8 billion of sales, while Mastercard and Visa were trimmed.
- Berkshire pared its Amazon position to about 2.3 million shares after large sales in Q4 and Q1.
People Involved
- Greg AbelBerkshire Hathaway CEO
- Warren BuffettBerkshire Hathaway Chairman and former CEO
- Todd CombsFormer Berkshire portfolio manager (departure reported)
- Ted WeschlerBerkshire portfolio manager (oversees portion of holdings)
Entities Involved
- Berkshire Hathaway (BRK.A/BRK.B)Investor executing portfolio overhaul
- Delta Air Lines (DAL)New $2.6 billion stake (39.8 million shares)
- Alphabet Inc. (GOOGL)Stake increased to ~58 million shares, up 224%
- Macy's (M)New position opened
- Chevron (CVX)Position cut ~35% with roughly $8 billion sold
- Mastercard (MA)Position trimmed
- Visa (V)Position trimmed
- Amazon.com (AMZN)Position pared to ~2.3 million shares after heavy selling
MarketMoodz Analysis
For investors, the filing is a playbook on how Berkshire under Abel is recalibrating risk and sector tilts. The sizeable Delta stake signals renewed confidence in airline cash flows and pricing power post-pandemic, while a 224% jump in Alphabet shows selective reentry into big-cap tech without tilting wholly toward growth. Trimming Chevron by about 35% and offloading portions of Mastercard and Visa reduces energy and payments concentration, freeing capital for the new consumer and tech positions.
The moves also reflect active portfolio management rather than passive stewardship: roughly $8 billion of Chevron sales and the heavy reduction in Amazon—from an earlier 10 million to about 2.3 million shares—illustrate willingness to realize gains and rebalance. Historically, Berkshire has oscillated between concentrated big bets and diversification; under Abel the pattern looks like concentration on durable, cash-generative businesses (Delta, big tech, select retailers) combined with disciplined trimming of commodity and payment-exposure when valuations or strategy dictate.
What to watch next: Q2 13F updates and company earnings will reveal whether these are tactical trades or the start of a longer-term tilt under Abel. Investors should monitor buyback announcements, capital allocation comments from the companies involved, and any further governance disclosures—reports about internal personnel changes (like Todd Combs) carry lower confidence and could influence how much discretion Abel and other managers exercise moving forward.
Source: Original Article