Berkshire Hathaway Equity Portfolio (Q1 2026) [OC]

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.

Tools used: adobe illustrator, excel

data as of: 15 May, 2026