Berkshire Hathaway has made significant changes to its portfolio in the first quarter of 2026, marking a new era under CEO Greg Abel. The company invested approximately $2.65 billion in Delta Air Lines, re-entering the airline industry after a six-year hiatus. This move is seen as a sign of confidence in the recovery of U.S. consumer spending and business travel. Additionally, Berkshire increased its stake in Alphabet by over 200%, making it the seventh-largest holding in its portfolio. In contrast, Berkshire exited positions in several major companies, including Amazon, Visa, and Mastercard, as part of a broader strategy to streamline its holdings. The company also sold approximately 457.8 million shares of Chevron, generating around $8 billion in proceeds. Despite this sale, Berkshire remains Chevron's fourth-largest shareholder. Overall, Berkshire's portfolio adjustments reflect a shift towards a more concentrated and deliberate investment strategy under its new leadership.