Berkshire Hathaway's recent portfolio adjustments have influenced stock movements in early trading on Monday. The company, now under CEO Greg Abel, disclosed its quarterly U.S. stock portfolio, revealing significant investments and divestments. Notably, Berkshire acquired 39.8 million shares of Delta Airlines, valued at $2.6 billion, making it the company's 14th largest holding.
This investment comes after Warren Buffett previously sold Berkshire's entire airline portfolio during the pandemic due to shifts in consumer travel behavior. Delta's stock rose 2.5% in premarket trading following this news. Additionally, Berkshire made a substantial investment in Alphabet, purchasing 58 million shares, which is a 224% increase, positioning it as the seventh largest holding.
However, Alphabet's stock dipped 0.6% in early trading. Other notable changes included a new stake in Macy's, which saw a 5% increase in premarket trading, a 35% reduction in Chevron, including an $8 billion share sale, and the complete exit from Amazon, where Berkshire sold its remaining 2.3 million shares. Amazon's stock was down 0.7% in premarket trading.
These moves may reflect a strategy to unwind positions associated with former investment manager Todd Combs, who left to join JPMorgan. Abel has indicated that he continues to consult with Buffett on investment decisions, maintaining a close connection with the company's founder