Key Takeaways<\/p>\n
Berkshire Hathaway purchased new stakes in Delta and Macy’s during Greg Abel’s first quarter as CEO of the conglomerate, a filing Friday showed.<\/p>\n
The company also cut its stakes in Amazon, Mastercard, UnitedHealth, Visa and several others.<\/p>\n
Berkshire Hathaway is shaking up its portfolio after getting a new CEO.<\/p>\n
The conglomerate added new stakes in Delta Air Lines (DAL) and Macy’s (M) during Greg Abel’<\/a>s first quarter as CEO, a regulatory filing Friday showed. Warren Buffett stepped down as CEO at the end of last year after six decades at the helm, though he has said he is still involved in investment decisions<\/a>.<\/p>\n Shares of Delta added 3% in extended trading Friday following the news, after losing 2% during the regular session on a down day for broader markets<\/a>. Macy’s stock jumped more than 5% in the after-hours session.<\/p>\n Why This Matters to Investors<\/p>\n Investors have been eager to see how Berkshire’s investment strategy could change under CEO Greg Abel, who replaced legendary investor Warren Buffett in the position earlier this year.<\/p>\n Berkshire’s (BRK.A, BRK.B) new stake in Delta totaled 39.8 million shares at the end of the first quarter, while it held roughly 3 million shares of Macy’s, making both far smaller stakes than Berkshire’s largest holdings. Shares of Delta, which have taken a hit recently amid worries about rising fuel prices as the war in Iran drags on, have added just 1% since the start of the year, while Macy’s stock has lost nearly 17%.<\/p>\n Meanwhile, Berkshire more than tripled its stake in Google parent Alphabet (GOOGL) to close to 58 million shares from 17.8 million in the fourth quarter. Apple remained its largest holding, with close to 228 million shares\u2014unchanged from the previous quarter, after three straight quarters of cuts.<\/p>\n The company also eliminated its stakes in Amazon (AMZN), Mastercard (MA), UnitedHealth (UNH) and Visa (V), among others. UnitedHealth shares dropped more than 4% in after-hours trading, while shares of the other three companies were little-changed.<\/p>\n The choices to exit those stocks could potentially point to changes Abel’s made to offload the picks of Todd Combs<\/a>, who left Berkshire for JPMorgan at the end of 2025.<\/p>\n Shares of Berkshire Hathaway have lost about 4% since the start of the year, compared to the S&P 500’s roughly 8% gain, amid some uncertainty about Abel’s leadership and the loss of a “Buffett premium.”<\/p>\n