Berkshire Hathaway Buys $2.65B Delta Air Lines Stake, Exits Amazon and UnitedHealth

Berkshire Hathaway (NYSE:BRK-B), now under CEO Greg Abel, disclosed in its Q1 2026 13F filing the acquisition of almost 40 million shares of Delta Air Lines (NYSE:DAL), a position valued at approximately $2.65 billion. The disclosure landed alongside full exits from Amazon (NASDAQ:AMZN), UnitedHealth (NYSE:UNH), and Domino's Pizza (NASDAQ:DPZ), which makes the airline buy the loudest signal of a strategic shift.

Portfolio Changes Details

• Delta Air Lines purchase: ~40 million shares worth $2.65 billion.
• Amazon sale: Full exit from the stock.
• UnitedHealth sale: Full exit from the stock.
• Domino's Pizza sale: Full exit from the stock.

Context

This move breaks Warren Buffett's famous rule of avoiding airline stocks due to their cyclicality and vulnerability to economic shocks. In 2020, Berkshire sold all its airline holdings during the COVID-19 pandemic. With air travel now recovering strongly, the new management appears to see value in Delta.

What It Means for Investors

The shift suggests that under Abel, Berkshire may adopt a more flexible approach, leveraging its massive cash flows. Investors should watch future filings to see if this marks a broader move into cyclical sectors.