In a sweeping portfolio reshuffle, Berkshire Hathaway completely exited 16 positions, including Amazon, Visa, Mastercard and UnitedHealth Group, while adding Delta Air Lines and Macy's as new holdings in the first quarter.
In addition, Berkshire more than tripled its share stake in Google parent Alphabet, which at $16.6 billion has become one of its largest common stock investments.As part of a regulatory filing on Friday, the conglomerate disclosed a new $2.65 billion investment in Delta Air Lines.
Berkshire also more than doubled its stake in The New York Times , and said it owned 9.4% of that company's stock.Berkshire bought $15.94 billion and sold $24.09 billion of stocks in the January-to-March period, according to the conglomerate's stock holdings as of 31 March.The portfolio rejig comes after Greg Abel took charge as Berkshire's chief executive to succeed legendary investor Warren Buffett.Ready to boardMost stock sales were likely directed by Abel, who based on prior disclosures inherited most of Berkshire's equity portfolio including the portion belonging to Todd Combs, a Buffett protege who left in December to join JPMorgan Chase.
Abel said in February he oversaw 94% of Berkshire's stock holdings, while investment manager Ted Weschler handled 6%.The 6.1% stake....
