Berkshire Hathaway triples Alphabet stake and invests in Delta and Macy’s under new CEO
Greg Abel’s first-quarter overhaul added $2.65 billion in Delta, a $55 million Macy’s stake and more than tripled Alphabet holdings.
- On Friday, Berkshire Hathaway disclosed a major portfolio overhaul under CEO Greg Abel, tripling its Alphabet stake to approximately $23 billion while establishing new positions in Delta Air Lines and Macy's.
- These changes follow Abel's succession of Warren Buffett as CEO on December 31 and the departure of investment manager Todd Combs late last year, marking a strategic shift in portfolio management.
- Berkshire's Alphabet investment now ranks among its largest holdings at approximately $23 billion, while the company re-entered the airline sector with a $2.65 billion Delta stake after exiting all U.S. carriers in 2020.
- Delta and Macy's stock prices rose after the disclosure, while the conglomerate exited 16 positions including Visa, Mastercard, UnitedHealth Group, Amazon, and Domino's Pizza during the first quarter.
- Managing a record cash hoard nearing $400 billion, Abel oversees Berkshire's investment strategy while consulting Buffett on capital allocation, signaling continuity amid the leadership transition.
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Berkshire Hathaway’s Greg Abel bought sector that Warren Buffett long avoided in his first year as CEO
Under new CEO Greg Abel, Berkshire Hathaway significantly boosted its tech and airline holdings, tripling its Alphabet stake and buying over $2.6 billion in Delta Air Lines shares. This shift follows Todd Combs' departure and marks a departure from Warren Buffett's historical tech avoidance, with Abel now steering the conglomerate's investment strategy.
Berkshire Hathaway Triples Alphabet Stake and Invests in Delta and Macy’s Under New CEO
OMAHA, Neb. (AP) — Berkshire Hathaway more than tripled the size of its investment in Google’s parent company and bought over $2.6 billion worth of Delta Airlines stock as Greg Abel settled into the CEO job after taking over from Warren Buffett at the start of the year. Buffett was always reluctant to invest in tech companies because he said he didn’t understand them well enough. Buffett did make an exception to that rule near the end of his car…
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