Warren Buffett and Greg Abel attend Berkshire Hathaway’s annual shareholder meeting on May 4, 2024 in Omaha, Nebraska.
CNBC
Berkshire Hathaway added a significant investment to delta airlinesmarks the conglomerate’s return to the aviation industry after a complete exit from the sector during the 2020 Covid-19 pandemic.
The Omaha-based company has amassed a position worth more than $2.6 billion and was Delta Berkshire’s 14th largest holding at the end of March, according to new regulatory filings.
Warren Buffett surprised investors six years ago when he sold Berkshire’s entire portfolio of U.S. airline stocks. united, american, southwest And Delta Airlines. Buffett said at the time that the pandemic had fundamentally changed consumer behavior and travel patterns.
The company has reduced its stake in Berkshire’s largest holding. chevron During this quarter, while significantly increasing its relatively new position, alphabet. Google’s parent company is now Berkshire’s seventh largest holding company.
Berkshire also initiated a small position Macy’svalued at approximately $55 million at the end of the first quarter.
Todd Combs position rewind
Meanwhile, the conglomerate sold a large amount of stock last quarter, likely as part of an effort to unwind positions related to outgoing vice president Todd Combs.
The longtime investment manager and head of Geico left the company at the end of 2025 for JPMorgan. Mr. Combs was one of two portfolio managers hired by Mr. Buffett to help oversee Berkshire’s stock portfolio. Another investment manager, Ted Weschler, continues to oversee about 6% of the holdings.
Among the most notable sales, master card and visaa position that reflects the first stock Mr. Combs bought after joining Berkshire and a major holding at his former hedge fund, Castle Point Capital.
Conglomerates also completely withdrawn Amazon After cutting positions late last year. The investment had long been viewed by some investors as a Combs-led bet.
Also includes other shares sold by Berkshire. united health group, Aon, Pool Corporation Co., Ltd., domino pizza and charter communications.
not an ideal environment
Buffett has stepped down as CEO after more than 60 years at the helm, but remains chairman of the Omaha, Nebraska-based company and continues to work five days a week.
New CEO Greg Abel said he has been consulting with Buffett, 95, about investments and capital allocation, including the company’s recent resumption of stock buybacks in the first quarter.
Buffett recently admitted that he is frustrated with the investment environment as Berkshire’s cash holdings swell to a record nearly $400 billion.
“Berkshire is not an ideal neighborhood or environment in terms of putting money into Berkshire,” the former CEO said.
