Berkshire Hathaway exits Visa, Mastercard, UnitedHealth, and Amazon while establishing new position in Delta Air Lines under CEO Greg Abel

Berkshire Hathaway's latest 13F filing shows the company has exited positions in Visa, Mastercard, UnitedHealth Group, and Amazon, while establishing a substantial new position in Delta Air Lines.

The portfolio shift moves capital away from mature financial and healthcare franchises toward an airline facing competitive pressures from United Airlines, American Airlines, and Southwest—signaling CEO Greg Abel's willingness to expose shareholders to businesses tied to consumer demand cycles and capacity management rather than solely fee-based or insurance-backed cash flows.

The moves come under Greg Abel following Warren Buffett's retirement, representing a fresh management approach to how Berkshire balances concentration risk, liquidity, and sector bets alongside its core operating businesses, cash holdings, and private subsidiaries.