Warren Buffett’s investment giant Berkshire Hathaway revealed on Friday that it has made major changes to its stock portfolio, including purchasing a $2.65 billion stake in Delta Air Lines and acquiring a smaller position in Macy’s while divesting from numerous holdings such as Amazon.com and UnitedHealth Group.
These investment moves represent a broader reorganization of the company’s holdings following the recent exit of an investment manager who had assisted Berkshire Chairman Warren Buffett in deploying the company’s capital.
Regulatory documents show that Berkshire also completely eliminated its multi-billion dollar positions in payment processors Visa and Mastercard during the first quarter, along with disposing of a substantial holding in insurance brokerage Aon.
This quarter marked the first period with Greg Abel serving as Berkshire’s chief executive after taking over from Buffett, and represents the first complete quarter following the departure of Buffett protege Todd Combs, who left to join JPMorgan Chase where he will spearhead a new investment program.
