Berkshire Hathaway's latest 13F filing reveals significant portfolio changes under new CEO Greg Abel, including exits from Visa, Mastercard, UnitedHealth Group, and Amazon. Most notably, Berkshire purchased 39.8 million shares of Delta Air Lines worth $3.28 billion, marking its return to the airline industry after previous losses during COVID-19. The move signals new management implementing different strategies, with Delta trading at attractive valuations below 10x earnings.

The article compares Delta Air Lines and United Airlines as investment options for 2026. Delta leverages premium positioning and American Express partnerships for high-margin revenue, while United pursues aggressive global expansion with a lower valuation. Despite Delta's stronger profitability metrics and lower debt, the author recommends United Airlines for its growth potential, lower valuation, and ambitious expansion plans already underway.

Amazon stock, currently trading near $274, is positioned to reach $300 this year driven by accelerating growth in AWS (28% YoY in Q1), expanding advertising revenue ($70B+ annual run rate with 24% Q1 growth), and emerging businesses including AI chips ($20B+ run rate) and satellite internet service Amazon Leo. Wall Street analysts have an average one-year price target of $319.

Alaska Air Group shares rose 12.7% this week as airline stocks climbed amid rising jet fuel costs. Southwest Airlines CEO's comments about successfully implementing seven consecutive fare increases without demand drops suggest airlines can offset fuel cost increases with higher prices. This positive trend could help Alaska Air recover from significant fuel cost headwinds that were expected to impact earnings.

American Airlines is partnering with SpaceX to install Starlink Wi-Fi across 500+ Airbus aircraft starting Q1 2027, aiming to capture premium corporate travel demand. The move comes as the airline faces near-term headwinds including guidance cuts, $1.14 billion in new secured debt, and executive departures. The company is reversing its failed direct-to-corporate sales strategy while leveraging superior in-flight connectivity to compete against rivals like Delta, which selected Amazon's Kuiper system.

Heico's stock surged 10.7% after beating Q2 earnings expectations in both its Flight Support Group and Electronic Technologies Group segments, with FSG sales at $929M (vs. $864M consensus) and ETG at $460M (vs. $396M consensus). Despite industry headwinds from jet fuel prices and Middle East route closures, CEO Victor Mendelson expressed confidence that current disruptions are temporary and fuel prices will eventually settle, spurring growth. Jefferies upgraded its price target from $375 to $410.

Greg Abel, Berkshire Hathaway's new CEO, sold the company's entire 5.1 million-share stake in UnitedHealth Group in Q1 2026 as part of portfolio spring cleaning. While UnitedHealth shares have rallied over 40% since the sale, the author argues Abel made the right call given the stock's valuation risks and the company's ongoing turnaround challenges. Berkshire also exited positions in Amazon, Domino's, Mastercard, and Visa while increasing stakes in Alphabet and adding new positions in Delta Airlines and Macy's.

Greg Abel, now leading Berkshire Hathaway's investment decisions, purchased a $2.65 billion stake in Delta Air Lines during Q1 2026 amid an oil price spike triggered by U.S.-Iran conflict. Delta's unique competitive advantage—an oil refinery acquired in 2012—allows it to offset higher jet fuel costs better than competitors, positioning it to emerge stronger as weaker airlines face consolidation or bankruptcy.

Berkshire Hathaway's new CEO Greg Abel made significant portfolio changes in Q1, reducing holdings from 39 to 26 stocks and dumping positions in Amazon, Visa, and Mastercard. Abel's largest new investments were in Delta Air Lines ($2.6B) and Macy's ($55M)—both industries where Buffett has acknowledged past mistakes. However, Abel's biggest move was a $10B increase in Alphabet, which the author views favorably. The analyst expresses concern about most of Abel's moves outside of Alphabet.

Airline stocks surged on Wednesday as crude oil prices fell sharply following President Trump's announcement that Iran negotiations were in their final stages. U.S. crude dropped over 6% to $97.74/barrel, providing relief to airlines that faced a 56.4% spike in fuel expenses in March. United Airlines, Delta Air Lines, and American Airlines all jumped on expectations of improved margins from lower jet fuel costs.

Hedge fund GMT Capital Corp. established a new position in Marriott Vacations Worldwide by acquiring 1,023,450 shares worth approximately $66.65 million in Q1 2026, making it the fund's 11th largest holding. The investment reflects bullish sentiment on the company's strong Q1 revenue growth and improved free cash flow forecasts, though the stock's valuation appears elevated and has underperformed the S&P 500 by 22.48 percentage points over the past year.

Delta Air Lines faces a sharp increase in jet fuel costs due to Middle East conflict, with fuel prices roughly doubling in 2026. Despite this headwind, the airline maintains strong demand and diversified revenue streams (62% from premium cabins, loyalty programs, and American Express partnership). Wall Street expects higher revenue but lower earnings and cash flow. Delta trades at attractive valuations (12.9x earnings, below 20x FCF) and is rated a buy, though investors should monitor for potential demand weakness.