The 3 Most Surprising Moves Berkshire Hathaway Made in Q1 Under New CEO Greg Abel

Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) has a new CEO this year, with Greg Abel taking over from Warren Buffett, and there have already been some significant changes in the company's portfolio. While the investing strategy and discipline may be the same, there have been some notable changes in just the first quarter of 2026. Here are the biggest surprises from Berkshire's most recent 13F filing.

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Berkshire added a big position in Delta

Buffett has never been a big fan of airlines. In Berkshire's 2007 shareholder letter, he outlined his reasons for not liking them: "The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines."

That's why Berkshire's move to buy around 40 million shares of Delta Air Lines (NYSE: DAL) this past quarter was particularly noteworthy, as it wasn't the type of move Buffett may have made. And at nearly 1% of Berkshire's portfolio, it's not a terribly small position, either. It comes at an interesting time, given that oil prices are up and demand for travel could be lower for the foreseeable future due to not only rising costs but also adverse economic conditions.

Delta is, however, a leading airline and has performed well over the years, and could arguably be a good investment to hold on to for the long term. But Berkshire didn't exactly buy low -- the stock is up 66% in the past five years, making this a bit of a surprising move for the company, given both Delta's rising valuation and the industry that it's in.

It tripled its stake in Alphabet

Something I definitely didn't expect to see so quickly was a top tech company like Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) becoming one of Berkshire's top holdings. While I thought it was possible, I didn't expect it to happen so soon. But at just under 7%, Alphabet now accounts for more of Berkshire's portfolio than Chevron and Occidental Petroleum. It's the fifth-largest holding after Berkshire tripled its position in the tech giant.

Alphabet may be the clearest example of a change in the mix of stocks at Berkshire, potentially reflecting a greater acceptance and focus on tech. While Apple is the leading stock in Berkshire's portfolio, its days of leading the tech sector are long gone. Alphabet, however, gives Berkshire investors more exposure to artificial intelligence and is more of a classic tech investment than Apple, which is why the move to significantly increase its position was particularly noteworthy for Berkshire.

And like Delta, it isn't a terribly cheap stock. Alphabet is trading at an all-time high, and its price-to-earnings multiple is 29. This is another move I wouldn't have expected Buffett to make.

Berkshire dumped many stocks, but Kraft wasn't one of them

There was speculation earlier in the year that Berkshire might exit its position in Kraft Heinz (NASDAQ: KHC), which has long been a staple in its portfolio, but that didn't end up happening. Kraft was contemplating a breakup of its business, but eventually abandoned the idea.

The move to keep Kraft is puzzling, given that Berkshire exited its position in many stocks, including UnitedHealth Group, Mastercard, and Domino's Pizza, among others. These are businesses that arguably look to be in better shape than Kraft, and yet, Berkshire decided to remain invested in the struggling food company.

It may be a sign that Berkshire is more open to hanging onto Kraft as an investment now that it's no longer looking to break up. However, with the company facing considerable headwinds, it's a riskier-looking investment than the stocks that Berkshire exited this past quarter, which is why it's surprising to see Kraft surviving such a mass exodus. In the past five years, Kraft's stock has declined by a staggering 46%, making it one of Berkshire's worst holdings over that stretch.

Do these moves make Berkshire's stock a better buy?

Berkshire's stock is down 4% this year as investors grapple with the reality of Buffett no longer leading the company. The moves Berkshire made this quarter don't necessarily make the business a whole lot better or worse, but they do indicate a shift in strategy, where the company may be more willing to pay higher prices for stocks and venture into new opportunities. For long-term investors, the stock can still be a great buy and an effective way to diversify your portfolio.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, Berkshire Hathaway, Chevron, Domino's Pizza, and Mastercard. The Motley Fool recommends Delta Air Lines, Kraft Heinz, Occidental Petroleum, and UnitedHealth Group. The Motley Fool has a disclosure policy.