TLDR
- Greg Abel eliminated Berkshire’s complete positions in Visa and Mastercard in Q1 2026
- Delta Air Lines emerged as a new holding with 39.8 million shares valued at $2.8 billion
- The Alphabet position expanded threefold to 54.2 million A shares worth $23 billion
- Sixteen minor holdings were liquidated, including Pool Corp, UnitedHealth, and Amazon
- Apple continues as the dominant holding, representing 20.7% of the $330 billion portfolio
Greg Abel didn’t hesitate to put his stamp on Berkshire Hathaway’s massive $330 billion investment portfolio during his first quarter as CEO in 2026. The strategic moves represent a notable departure from Warren Buffett’s long-established investment philosophy.
The complete liquidation of Berkshire’s 8.3 million Visa shares and its entire Mastercard position caught market attention. While these stakes only accounted for roughly 1% of total holdings each, the decision to exit both payment processors simultaneously signals Abel’s current view on the credit card industry.
Interestingly, American Express escaped the purge entirely. The financial services giant now ranks as Berkshire’s second-biggest investment, valued at $47 billion.
Airlines Return to Berkshire’s Radar
Warren Buffett’s 2020 decision to dump approximately $4 billion in airline investments during the pandemic became legendary. He maintained that stance for years. Greg Abel reversed course.
Berkshire accumulated 39.8 million shares of Delta Air Lines (DAL) during the first quarter of 2026, establishing a $2.8 billion stake. The entry came when DAL shares were trading at depressed valuations. The stock has appreciated since Berkshire’s purchase. While representing about 1% of total assets, the investment signals meaningful conviction.
This decision demonstrates Abel’s readiness to embrace opportunities that Buffett explicitly rejected.
Massive Expansion in Alphabet Holdings
Berkshire entered 2026 with a modest Alphabet (GOOGL) stake. Abel expanded that position dramatically. The portfolio now includes 54.2 million A shares valued at $23 billion, elevating it to Berkshire’s seventh-largest investment. An additional 3.6 million C shares worth approximately $1 billion were also acquired.
GOOGL currently trades near $383, reflecting a roughly 1.2% decline for the session.
Buffett’s historical aversion to technology investments is well documented. Abel clearly operates with different parameters.
Alphabet has leveraged artificial intelligence to strengthen and expand its core operations. Google Search generated $60.4 billion in Q1 2026 revenue, marking a 19% year-over-year jump — the fourth consecutive quarter of accelerating growth. Innovations like AI Overviews and AI Mode have been instrumental in driving this performance.
Apple Maintains Dominant Position
Despite Buffett’s decision to sell approximately three-quarters of Berkshire’s Apple holdings throughout 2024 and 2025, the iPhone maker still commands 20.7% of the portfolio. The reduction strategy aimed to mitigate concentration risk and capture profits after the position peaked above $170 billion in value.
Buffett indicated to CNBC earlier this year his satisfaction with Apple’s leading position and expressed openness to increasing the stake under favorable pricing conditions.
Coca-Cola remains another substantial holding with AI-related implications. It comprises 9.9% of total assets and generated $816 million in dividend income for Berkshire last year.
Abel systematically eliminated 16 smaller investments that contributed minimally to portfolio returns. Liquidations included recently acquired Pool Corp, UnitedHealth, and Amazon. This housecleaning appears designed to eliminate distractions and sharpen investment focus.
As of the first quarter 2026, three AI-connected companies — Apple, Alphabet, and Coca-Cola — collectively represent 37.4% of Berkshire’s complete investment portfolio.
