Berkshire Hathaway Cuts Bank of America Stake, Pours Millions into Delta Air Lines
Berkshire Hathaway has trimmed its stake in Bank of America by $1.7 billion, a reduction of roughly 30.2 million shares during the second quarter of 2026, according to the conglomerate's latest 13F filing with the Securities and Exchange Commission.
The cut, which trimmed the position by 5.9%, marks the eighth consecutive quarter that Berkshire has pared its holdings in the Charlotte-based lender, extending a sell-down that began under former CEO Warren Buffett and has continued under his successor, Greg Abel.
While the company's largest positions, Apple (AAPL), American Express (AXP), and Coca-Cola (KO), remained untouched, the quarter featured a notable rotation: out of a legacy bank holding and into an airline. Berkshire added approximately 17.5 million shares of Delta Air Lines (DAL), expanding that stake by 44% to 57.3 million shares, worth about $5.4 billion at the end of June.
The return to Delta under Abel's leadership signals a shift in portfolio strategy that goes beyond simple repositioning. Berkshire also eliminated or sharply reduced several holdings previously managed by former portfolio managers Todd Combs and Ted Weschler.