Berkshire’s Q1 2026 13F was more interesting than I expected.
The headline move:
They cut Chevron by 35%…
Then bought $2.65B of Delta.
That is a funny contrast because Chevron benefits from higher oil prices, while Delta is exposed to fuel costs.
Other notable moves:
• Added Delta: $2.65B
• Added Macy’s: $55M
• Increased Alphabet Class A by 36.4M shares
• Nearly tripled New York Times
• Sharply cut Constellation Brands
• Reduced Nucor
• Slightly trimmed Bank of America
They also fully exited:
• Amazon
• Visa
• Mastercard
• UnitedHealth
• Domino’s Pizza
• Aon
• Pool Corp
• Charter Communications
• Diageo
The portfolio value fell to $263.1B, down 4.0% QoQ.
Berkshire was also a net seller of stocks by about $8.1B.
But despite all the activity, the portfolio is still extremely concentrated.
Apple, American Express, and Coca-Cola make up about 51%.
The top 7 holdings make up roughly 80%.
So yes, the quarter was active.
But most of the action was around the edges.
The core portfolio still has Buffett’s fingerprints all over it.
by ExaminationOk6652
4 Comments
Tools used: Adobe Illustrator, Microsoft Excel
Data as of: 15 May, 2026
He retired. It’s Abel’s portfolio now.
This is a loser boomer portfolio if I ever saw one. Earth is going full grey goo and Alphabet is the only one here that will be a major part of it.
Berkshire has massively underperformed the NASDAQ 100 over the past 10-15 years, btw. It’s not Cathy bad but pretty bad.
I would find this more interesting if it also showed what percentage of each company Berkshire owns.