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Why Is Berkshire Hathaway Buying Delta and Selling Amazon, Visa and Mastercard?
Berkshire Hathaway reshuffled its investment portfolio in the March quarter, adding Delta Air Lines and increasing its stake in Alphabet while selling several major holdings including Amazon, Visa and UnitedHealth. The moves come as Greg Abel takes on a larger leadership role at Warren Buffett’s conglomerate.
Berkshire Hathaway has disclosed a major reshuffle of its investment portfolio, including a new multi-billion-dollar stake in Delta Air Lines and a larger investment in Alphabet. At the same time, the investment giant reduced or exited positions in companies including Amazon, Visa, Mastercard and UnitedHealth Group. The portfolio moves were revealed in a regulatory filing covering Berkshire’s holdings as of March 31, 2026.
Key highlights
- Berkshire Hathaway invested about $2.65 billion in Delta Air Lines
- The company more than tripled its stake in Alphabet
- Berkshire sold stakes in Amazon, Visa, Mastercard and UnitedHealth
- Greg Abel is taking a larger role in Berkshire’s investment operations
- Delta shares rose after the disclosure was released
- Berkshire’s equity portfolio was valued at roughly $288 billion at the end of March
What Happened?
Berkshire disclosed a new investment worth about $2.65 billion in Delta Air Lines. The company now owns roughly 39.8 million shares, equal to a 6.1 per cent stake in the airline.
The conglomerate also more than tripled its investment in Alphabet. The Google parent has now become one of Berkshire’s biggest stock holdings, valued at around $16.6 billion.
In addition, Berkshire increased its stake in The New York Times Company and revealed a smaller position in Macy's.
On the other side of the ledger, Berkshire sold a range of smaller investments. These included holdings in Amazon, Visa, Mastercard, UnitedHealth, Domino's Pizza and Aon.
The company also reduced its investment in Chevron, although the oil producer remains one of Berkshire’s largest holdings.
Greg Abel’s Growing Influence
The latest portfolio changes come after Greg Abel was elevated as the future chief executive successor to legendary investor Warren Buffett.
Abel has increasingly taken charge of Berkshire’s investment operations. Earlier disclosures showed he oversees most of the company’s equity portfolio, while investment manager Ted Weschler handles a smaller share.
The moves may signal a broader shift in Berkshire’s investment strategy as leadership responsibilities gradually transition beyond Buffett.
Why Berkshire Returned to Delta
Berkshire’s investment in Delta is particularly notable because the company exited all major airline holdings during the COVID-19 pandemic in 2020.
At the time, Buffett said the aviation industry had fundamentally changed because of the pandemic’s impact on global travel demand.
However, airline profitability has since recovered strongly, supported by rising travel demand and premium international routes. Delta is widely viewed as one of the strongest-performing major US airlines.
The investment also arrives as airline stocks face pressure from higher fuel prices linked to the Middle East conflict and oil market volatility.
What It Means for Australia
The Berkshire portfolio reshuffle could be closely watched by Australian investors because it highlights where major global capital is moving during a volatile economic environment.
The increased focus on airlines, technology and artificial intelligence-linked companies may reinforce investor optimism toward sectors tied to travel recovery and digital infrastructure growth.
Australian investors with exposure to global ETFs, US tech shares and superannuation funds may also see indirect impacts from Berkshire’s growing position in Alphabet and continued confidence in major US companies.
Meanwhile, Berkshire’s reduced exposure to payments companies such as Visa and Mastercard could raise questions about future growth expectations for global consumer spending and transaction volumes.
What Happens Next?
Investors will now closely watch whether Berkshire continues increasing exposure to technology and artificial intelligence-related companies in future quarters.
Markets will also monitor how Greg Abel shapes Berkshire’s long-term investment strategy as the company prepares for leadership changes after Buffett.
The next round of regulatory filings could provide more insight into whether Berkshire continues trimming consumer and financial holdings while increasing exposure to growth-focused sectors.
FAQs
Q1: Why did Berkshire Hathaway buy Delta Air Lines again?
Berkshire appears to be betting on the long-term recovery of global travel demand and Delta’s strong market position after previously exiting airline investments during the pandemic.
Q2: Why is Berkshire increasing its Alphabet investment?
Alphabet remains one of the world’s largest technology companies and is heavily involved in artificial intelligence, cloud computing and digital advertising growth.
Q3: Did Berkshire completely sell Amazon shares?
Berkshire disclosed that it sold many of its smaller holdings, including Amazon, though the filing did not specify whether the entire stake was exited.
Q4: What does this mean for Australian investors?
Australian investors exposed to US markets through ETFs, managed funds or superannuation may be affected by changing global investment trends in technology, airlines and financial stocks.
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