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Berkshire Reshuffles Portfolio With Delta, Macy's Additions

Berkshire Hathaway significantly reduced its equity holdings in the first quarter. New CEO Greg Abel now oversees all investments, taking primary responsibility from Warren Buffett. The portfolio additions included Delta Air Lines and Macy's. Berkshire rarely discloses who makes individual stock decisions. Historically, Buffett managed larger positions while portfolio managers handled smaller ones. Buffett maintains his chairman role and continues visiting the office five days weekly. Delta's return marks the airline's first appearance in the portfolio after a six-year absence. This addition raises questions given Buffett's previous skepticism about aviation investments. In early 2008, Buffett suggested a "farsighted capitalist" should have shot down Orville Wright at Kitty Hawk. His 1989 US Airways investment and his 2016-2020 airline holdings both proved problematic. Buffett confirmed to the Wall Street Journal he played no role in the Delta decision. According to the Journal, Berkshire "can't seem to quit its love affair" with airlines.