Berkshire Hathaway executed a significant portfolio restructuring during Greg Abel's first three months as CEO, marked by major increases in tech holdings and substantial cuts in other sectors. The changes indicate a notable shift in the conglomerate's investment strategy.
Key Portfolio Adjustments
- Alphabet (Google): Berkshire Hathaway dramatically increased its stake by 224% in the first quarter. As of the end of Q1, this investment valued at $16.6 billion, making it the company's seventh-largest equity holding.
- Chevron: This position saw the largest reduction by market value, with a 35% cut. The remaining stake was valued at over $17 billion.
- New Additions: The company initiated new investments in two areas: Delta Air Lines and Macy's.
- Other Increases: Four other holdings also saw increases in their stakes during the quarter.
Sectoral Shifts and Investments
Aviation Sector Re-entry
The return to the airline sector was highlighted by the purchase of 39.8 million shares in Delta Air Lines, currently valued at $2.8 billion. This move contrasts with Warren Buffett's historical skepticism regarding the industry, given past investments in US Airways.
Media and Retail Investments
- The New York Times: Berkshire tripled its stake in the publication, accumulating 15.1 million shares, valued at over $1.1 billion.
- Macy's: A new position was established in the department store chain, with the stock seeing a subsequent rise after the announcement.
Financial Snapshot
As of the publication date, Berkshire Hathaway reported the following key financial metrics:
- Cash Reserves: $397.4 billion (an increase of 6.5% from December 31).
- Total Market Cap: $1,041,004,861,297.
- Share Repurchases: The company repurchased $234 million worth of its shares in Q1 2026.
