Berkshire triples its Alphabet stake to $17B, bets $2.6B on Delta under new CEO
What's the deal? Berkshire HathawayDealroom has a profile for this one. Try Dealroom → more than tripled its investment in Google parent Alphabet and bought over $2.6B worth of Delta AirlinesDealroom has a profile for this one. Try Dealroom → stock during the first quarter of 2026 — Greg AbelDealroom has a profile for this one. Try Dealroom →'s debut as chief executive after taking over from Warren BuffettDealroom has a profile for this one. Try Dealroom → at the start of 2026.
By the end of March 2026, Berkshire owned nearly 58 million Alphabet shares worth almost $17B, up from 17.8 million shares worth $5.6B at the end of 2025. It also picked up nearly 40 million Delta shares and opened a small new position in MacyDealroom has a profile for this one. Try Dealroom →'s worth about $55M.
Meanwhile, the conglomerate dumped stakes in VisaDealroom has a profile for this one. Try Dealroom →, MastercardDealroom has a profile for this one. Try Dealroom →, Domino's PizzaDealroom has a profile for this one. Try Dealroom →, Amazon, and UnitedHealthDealroom has a profile for this one. Try Dealroom → — moves that came after the departure in late 2025 of Todd Combs, one of two investment managers Buffett hired to help run the $280B portfolio.
Why now? The reshuffle marks a clear break from the Buffett era. Buffett was famously reluctant to invest in tech, saying he didn't understand the sector well enough to pick long-term winners. His lone exception was a massive Apple stake built on consumer devotion to iPhones.
Abel appears more comfortable with tech. Tripling the Alphabet position signals a willingness to make big, concentrated bets in a space his predecessor largely avoided.
The Delta purchase is equally striking. Buffett had a rocky history with airlines, once telling shareholders that "if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favour by shooting Orville down."
What could go wrong? Abel has spent his career running operating businesses like Berkshire's collection of major utilities — not picking stocks. Many investors have followed Berkshire's portfolio moves for decades because they wanted to copy Buffett. That loyalty may not transfer until Abel builds his own track record.
The airline bet carries particular risk. Every previous Berkshire foray into the sector ended with Buffett selling at a loss or break-even point, most recently in 2020 when it dumped its entire airline portfolio during the pandemic.
The signal: The market's reaction was telling. Macy's and Delta shares both popped after Berkshire's Securities and Exchange Commission (SEC)Dealroom has a profile for this one. Try Dealroom → filing on May 15, 2026, but Alphabet's stock barely moved — suggesting investors see the Google bet as a reasonable allocation rather than a contrarian insight.
The broader message: Berkshire under Abel is willing to reshape its portfolio faster and with less deference to Buffett-era orthodoxies. Selling Visa, Mastercard, and Amazon while loading up on Alphabet and an airline represents a meaningful philosophical shift for the Omaha-based conglomerate.
Sources:
CNBC
Fortune
Business Insider
Barron's
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J.V.
