For decades, Berkshire HathawayQuarterly stock filings are considered a roadmap to Warren Buffett’s thinking.
However, the latter feels more special.
Berkshire Hathaway (BRK.A) (BRK.B) revealed a broad portfolio overhaul in its latest 13F filing, adding a large new stake in Delta Air Lines (DAL), increasing its stake in Alphabet (GOOGL) (GOOG), and exiting a number of household names, including Amazon (AMVth), Mastercard (AMZN), Mastercard (AMZN) and United (AMZN). Mastercard (AMZN), and the United States
The company bought $15.94 billion in equities but sold $24.09 billion in the first quarter.
This is no ordinary portfolio holding.
The application comes in the first year of This is Greg Abel’s place stint as CEO of Berkshire and could provide one of the clearest early indicators that the company’s investment approach is beginning to change.
Buffett remains the heart of Berkshire’s ownership. But investors are increasingly asking what Berkshire looks like after Buffett, and the filing offers a glimpse of an answer that could include more rapid portfolio rebalancing, bigger tech bets and less loyalty to smaller legacy positions.
The biggest surprise may not be what Berkshire bought.
It could be what it is Berkshire didn’t want to have it anymore.
Berkshire Hathaway is making aggressive moves in key sectors
Wall Street quickly took notice of Berkshire’s new interest Delta Air Lines. Buffett became very popular in airline stocks during the Covid crisis.
Berkshire invested billions of dollars in airlines in 2020 after Buffett warned that the sector has changed. Now Berkshire is back with a stake worth $2.65 billion in Delta, Reuters said.
That alone would be remarkable in the filling.
But Berkshire’s pivot Alphabets it might have been even more serious.
Berkshire’s holdings in parent Google were so large that the business tripled its Alphabet position to nearly 58 million shares. AP put the stake at about $17 billion, but Barron’s said it should have been closer to $23 billion, reflecting a different valuation period.
The key Berkshire Hathaway 13F which is taken
Berkshire took a multi-billion dollar stake in Delta Air Lines.
Berkshire nearly tripled its Capital position.
Berkshire exited Amazon, UnitedHealth, Visa, and MasterCard.
Berkshire undercut Chevron by about 35%.
The filing is one of the first portfolio summaries of Greg Abel’s CEO tenure.
This is a fundamental shift in philosophy for a company that has been associated with banks, insurance companies, railroads, and consumer products.
Buffett largely avoided the technology space for years, preferring firms he found easier to understand and predict. That changed the story somewhat, thanks to Berkshire’s big investment an apple (AAPL), but Alphabet appears to be another technology that is currently available.
Berkshire, on the other hand, cut or exited aggressively in several sectors.
The conglomerate has loaded its stakes in Amazon, UnitedHealth, Visa, Mastercard, Domino’s Pizza (DPZ), The pool (POOL) and Aon (AON). It also decided to hold its own Chevron (CVX) by about 35%.
That mix of buying and selling made one thing clear: Berkshire wasn’t just nipping at the edges.
Greg Abel’s Berkshire may be just getting started
The broader significance of the filing may have less to do with any one stock and more to do with what the number of moves suggest about Berkshire’s future.
Berkshire was famous for holding positions for almost unlimited decades. Buffett said his favorite moment to catch is “forever.” This organization established its reputation for patience and discipline.
That tradition never seems to die.
Related: Warren Buffet’s Berkshire makes big $2.65B move in rising stock
apple, Coca-Cola (KO), American Express (AXP) and Moody’s (MCO) are among Berkshire’s primary holdings.
But the latest filing means Berkshire may be more volatile under Abel.
Other places to stay on Warren Buffett:
Rather than maintaining a long tail of small investments, Berkshire may jettison names that no longer align with its core beliefs. The organization also seems keen to explore deeper into areas related to AI and digital infrastructure.
That could become even more important as Wall Street grows in favor of firms integrated with AI buildout.
Alphabet provides direct exposure to cloud computing, AI-powered marketing and the growth of enterprise software at a time when investors are investing billions in artificial intelligence infrastructure. At the same time, Delta offers a game in the travel industry that has shown resilience in the face of rising operating costs and economic uncertainty.
The exits of Visa and MasterCard have been notable since Berkshire retained American Express.
That may indicate that Berkshire still likes the traditional payments business, but prefers the benefits of a closed environment and customer loyalty offered by American Express over the transaction-based models used by Visa and Mastercard.
Chevron’s downgrade may also signal a shift in priorities.
Energy has been one of Berkshire’s biggest themes lately, but cutting Chevron while adding to Alphabet could mean Berkshire sees more long-term upside in AI infrastructure than oil markets.
Warren Buffett attends Berkshire Hathaway’s annual shareholder meeting in Omaha. Photo by JOHANNES EISELE on Getty Images
Investors should be wary of overreacting to quarterly earnings. Berkshire’s portfolio decisions often play out over years, not months.
But this 13F filing seemed too obvious.
The filing showed Berkshire Hathaway values ​​discipline, scale, and long-term investing, but it may also be approaching a new era where money moves faster, technology is more important, and few jobs are safe just because they’ve been around for years.
And perhaps that was the most important takeaway for investors looking for signs about Berkshire behind Buffett.
Related: Warren Buffett doubles down on 2026 stock market message
This story was originally published by TheStreet on May 24, 2026, where it appeared first in the investing category. Add TheStreet as a favorite source by clicking here.
