economy
Berkshire Hathaway Returns to Airlines With $2.6 Billion Stake in Delta Air Lines
The Omaha-based company built a position worth more than $2.6 billion, making Delta Berkshire's 14th-largest holding at the end of March.
TL;DR
- Berkshire Hathaway has purchased a stake in Delta Air Lines worth over $2.6 billion, marking a return to the airline industry.
- This move follows Berkshire's complete exit from airline stocks in 2020 due to the pandemic.
- The company increased its stake in Alphabet, making it Berkshire's seventh-largest holding.
- Berkshire also initiated a new, smaller position in Macy's.
- Significant stock sales occurred, including Mastercard and Visa, potentially linked to the departure of former portfolio manager Todd Combs.
- Berkshire fully exited its Amazon investment and also sold holdings in UnitedHealth Group, Aon, Pool Corporation, Domino's Pizza, and Charter Communications.
- Despite stepping down as CEO, Warren Buffett remains chairman and continues to work five days a week, consulting on investments with new CEO Greg Abel.
- Berkshire's cash reserves have reached a record near $400 billion, with Buffett expressing challenges in deploying this capital.