Berkshire Hathaway on Friday disclosed a new $2.65 billion investment in Delta Air Lines and a small stake in Macy’s, and said it sold many smaller holdings including Amazon.com, UnitedHealth Group, Visa and Mastercard.
The changes were part of a portfolio reshuffling in the first quarter after Greg Abel was promoted to succeed Warren Buffett as Berkshire’s CEO.
Berkshire said it more than tripled its stake in Google parent Alphabet, now worth $16.6 billion and one of its largest investments.
It also more than doubled its stake in the New York Times, owning about 9% of the company. The filing covered Berkshire’s U.S.-listed stock holdings as of March 31.
Berkshire bought $15.94 billion and sold $24.09 billion of stocks in Q1. Most sales were likely directed by Abel, who inherited most of the equity portfolio.
Delta is considered among the best-run U.S. airlines. Its shares rose 3.2% after-hours. Macy’s shares gained 5.9% after-hours.
