Berkshire Hathaway revealed a significant overhaul of its U.S. equity portfolio in a filing released Friday, offering the first glimpse of the conglomerate’s investment direction under new chief executive Greg Abel. The changes, which took effect at the end of the first quarter, sparked movement in several of the newly disclosed stocks on Monday’s trading session.

The most striking addition is a 39.8‑million‑share stake in Delta Air Lines, valued at roughly $2.6 billion, propelling Delta to become Berkshire’s 14th‑largest holding. The airline’s share price rose more than 3% following the news, marking Berkshire’s return to the airline sector after a 2020 exit that saw the company sell more than $4 billion of positions in United, American, Southwest and Delta.

Berkshire also opened a position in department‑store chain Macy’s, a stake valued at about $55 million, which helped lift the retailer’s shares by more than 2% after the filing. The conglomerate continued to expand its relatively recent investment in Alphabet, the parent of Google, pushing the tech giant into the seventh‑largest slot in Berkshire’s portfolio. At the same time, the firm reduced its holding in Chevron, its former top‑energy bet.

The filing disclosed a series of disposals that appear linked to the departure of investment manager Todd Combs, who left Berkshire at the end of 2025 to join JPMorgan. Among the sold assets were Mastercard, Visa, and a complete exit from Amazon—positions that were originally associated with Combs’ strategy. Additional sales included UnitedHealth Group, Aon, Pool Corporation, Domino’s Pizza and Charter Communications.

Greg Abel, who assumed the CEO role earlier this year, emphasized his ongoing collaboration with Warren Buffett, noting that they speak daily when Abel is in Omaha and stay in touch remotely otherwise. The revamped portfolio reflects both a continuation of Berkshire’s long‑term value approach and a willingness to re‑enter sectors previously abandoned under Buffett’s guidance.