Berkshire Hathaway revealed sweeping portfolio changes in its latest first-quarter 2026 13F filing, including major new investments in airlines and technology while exiting several high-profile holdings.
The investment conglomerate led by Warren Buffett disclosed new positions in Delta Air Lines worth approximately $2.6 billion, Alphabet Class C shares valued near $1 billion, and a smaller position in Macy’s worth roughly $55 million.
Berkshire also sharply increased its existing Alphabet stake by 204%, bringing the total position to approximately $15.6 billion.
Technology and Media Exposure Expands
The filing showed Berkshire nearly tripled its holdings in The New York Times Company while significantly increasing exposure to homebuilder Lennar.
The aggressive expansion into Alphabet suggests Berkshire is becoming increasingly comfortable with artificial intelligence, cloud computing, and digital advertising exposure after years of relatively cautious positioning toward large-cap technology firms.
Analysts note that Alphabet’s growing role in AI infrastructure and cloud services may have strengthened its appeal to Berkshire’s investment team.
At the same time, Berkshire significantly reduced several cyclical and commodity-linked holdings, including cuts to Constellation Brands, Nucor, and Chevron.
The moves indicate a broader repositioning toward technology, media, and selective consumer-facing businesses while reducing exposure to industrial and commodity-sensitive sectors.
Major Exits Signal Strategic Shift
One of the biggest surprises in the filing was Berkshire’s complete exit from several major financial and consumer holdings.
The company fully sold positions in Visa valued at approximately $2.9 billion and Mastercard worth around $2.3 billion.
Berkshire also exited stakes in Amazon, UnitedHealth Group, Domino’s Pizza, and several additional holdings.
Meanwhile, the company left its massive Apple position unchanged at 227.9 million shares, maintaining one of Berkshire’s largest core investments.
The filing suggests Berkshire may be rotating capital toward sectors it views as offering stronger long-term valuation opportunities while maintaining significant exposure to dominant technology franchises.
The broader takeaway is that Berkshire Hathaway continues adjusting its portfolio around shifting economic conditions, AI-driven market leadership, and evolving sector dynamics while maintaining a cautious approach toward elevated valuations.
