{"id":4361,"date":"2026-05-15T21:20:48","date_gmt":"2026-05-15T21:20:48","guid":{"rendered":"https:\/\/www.finznest.com\/blog\/berkshire-hathaway-returns-to-airlines-with-2-6-billion-stake-in-delta-air-lines\/"},"modified":"2026-05-15T21:20:48","modified_gmt":"2026-05-15T21:20:48","slug":"berkshire-hathaway-returns-to-airlines-with-2-6-billion-stake-in-delta-air-lines","status":"publish","type":"post","link":"https:\/\/www.finznest.com\/blog\/berkshire-hathaway-returns-to-airlines-with-2-6-billion-stake-in-delta-air-lines\/","title":{"rendered":"Berkshire Hathaway returns to airlines with $2.6 billion stake in Delta Air Lines"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107410622\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Warren Buffett and Greg Abel during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.<\/p>\n<p>CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Berkshire Hathaway<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> added a sizeable stake in <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">Delta Air Lines<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, marking the conglomerate&#8217;s return to the airline industry after exiting the sector entirely during the Covid-19 pandemic in 2020.<\/p>\n<p>The Omaha-based company built a position worth more than $2.6 billion, making Delta Berkshire&#8217;s 14th-largest holding at the end of March, according to a new regulatory filing.<\/p>\n<p>Warren Buffett stunned investors six years ago when he sold Berkshire&#8217;s entire equity portfolio of U.S. airlines, including stakes worth more than $4 billion across <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\">United<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>,\u00a0<span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-5\">American<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>,\u00a0<span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\">Southwest<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>\u00a0and\u00a0Delta Air Lines. Buffett said at the time that the pandemic had fundamentally altered consumer behavior and travel patterns.<\/p>\n<p>Among Berkshire&#8217;s largest holdings, the firm trimmed its stake in <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\">Chevron<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> during the quarter while significantly increasing its relatively new position in <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-9\">Alphabet<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>. The Google parent is now Berkshire&#8217;s seventh-largest holding.<\/p>\n<\/div>\n<div class=\"InlineImage-imageEmbed InlineImage-inlineInfographic\" id=\"ArticleBody-InlineImage-108307935\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper InlineImage-wrapperNoCaption\">\n<div class=\"InlineImage-imagePlaceholder\" style=\"padding-bottom:71.94244604316548%\">\n<div><button class=\"InlineImage-closeEnlargedImage\"><svg width=\"20\" height=\"20\" viewbox=\"0 0 20 20\" fill=\"#002F6C\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" data-analytic-id=\"expand-icon\" class=\"InlineImage-background\"><title>Zoom In Icon<\/title><desc>Arrows pointing outwards<\/desc><circle cx=\"10\" cy=\"10\" r=\"10\" fill=\"white\" stroke=\"#002F6C\"\/><path d=\"M9.20185 10.7982C8.96049 10.5568 8.57037 10.5568 8.32901 10.7982L5.67901 13.4482V11.2346C5.67901 10.8938 5.40308 10.6173 5.06173 10.6173C4.72037 10.6173 4.44444 10.8938 4.44444 11.2346V14.9383C4.44444 15.279 4.72037 15.5556 5.06173 15.5556H8.76543C9.10679 15.5556 9.38271 15.279 9.38271 14.9383C9.38271 14.5975 9.10679 14.321 8.76543 14.321H6.55185L9.20185 11.671C9.44321 11.4296 9.44321 11.0395 9.20185 10.7982ZM14.9383 4.44446H11.2346C10.8932 4.44446 10.6173 4.721 10.6173 5.06174C10.6173 5.40248 10.8932 5.67903 11.2346 5.67903H13.4481L10.7981 8.32903C10.5568 8.57038 10.5568 8.96051 10.7981 9.20187C10.9185 9.32224 11.0765 9.38273 11.2346 9.38273C11.3926 9.38273 11.5506 9.32224 11.671 9.20187L14.321 6.55187V8.76545C14.321 9.10619 14.5969 9.38273 14.9383 9.38273C15.2796 9.38273 15.5556 9.10619 15.5556 8.76545V5.06174C15.5556 4.721 15.2796 4.44446 14.9383 4.44446Z\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Berkshire also initiated a small position in <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-10\">Macy&#8217;s<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, valued at roughly $55 million at the end of the first quarter.<\/p>\n<h3 class=\"ArticleBody-smallSubtitle\">Unwinding Todd Combs positions<\/h3>\n<p>Meanwhile, the conglomerate sold a slew of stocks last quarter, likely as part of an effort to unwind positions tied to departed lieutenant Todd Combs.<\/p>\n<p>The longtime investment manager and Geico chief left for JPMorgan at the end of 2025. Combs had been one of two portfolio managers recruited by Buffett to help oversee Berkshire&#8217;s equity portfolio. Ted Weschler, the other investment manager, continues to oversee about 6% of the holdings.<\/p>\n<p>Among the most notable sales were <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-13\">Mastercard<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-14\">Visa<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, the first stocks Combs purchased after joining Berkshire and positions that mirrored major holdings from his former hedge fund, Castle Point Capital.<\/p>\n<p>The conglomerate also fully exited <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-15\">Amazon<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> after trimming the position late last year. The investment had long been viewed by some investors as a Combs-driven bet.<\/p>\n<p>Other stocks Berkshire sold included <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-16\">UnitedHealth Group<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-17\">Aon<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-18\">Pool Corporation<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-19\">Domino&#8217;s Pizza<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-20\">Charter Communications<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>.<\/p>\n<h3 class=\"ArticleBody-smallSubtitle\">Not ideal environment<\/h3>\n<p>Buffett, who stepped down as CEO after more than six decades at the helm, remains chairman of the Omaha, Nebraska-based company and continues to come into the office five days a week. <\/p>\n<p>New CEO Greg Abel has said he consults Buffett, 95, on investments and capital allocation, including the recent resumption of buybacks in the first quarter.<\/p>\n<p>Buffett recently acknowledged displeasure with the investing backdrop as Berkshire&#8217;s cash hoard swells to a record nearing $400 billion.<\/p>\n<p>&#8220;It isn&#8217;t our ideal surrounding area \u2014 or environment, I should say \u2014 in terms of deploying cash for Berkshire,&#8221; the former CEO said.<\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffett and Greg Abel during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC Berkshire Hathaway added a sizeable stake in Delta Air Lines, marking the conglomerate&#8217;s return to the airline industry after exiting the sector entirely during the Covid-19 pandemic in 2020. The Omaha-based company built a position [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3256,1190,489,805,3255,490,3080,1979,1202],"class_list":["post-4361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-air","tag-airlines","tag-berkshire","tag-billion","tag-delta","tag-hathaway","tag-lines","tag-returns","tag-stake"],"_links":{"self":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts\/4361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/comments?post=4361"}],"version-history":[{"count":0,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts\/4361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/media\/4362"}],"wp:attachment":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/media?parent=4361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/categories?post=4361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/tags?post=4361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}