Berkshire's Big Bets: Delta, Alphabet, and Lennar Get Aggressive Investments
Berkshire Hathaway's Q1 2026 13F filing revealed three stocks that have caught the attention of Greg Abel and his team. The trio includes Delta Air Lines (DAL), Alphabet (GOOGL), and Lennar (LEN). Each stock has a distinct growth catalyst, and Berkshire is building positions in August.
Delta Air Lines saw the most aggressive positioning from Berkshire, with a new $2.6 billion position in 39.8 million shares. The airline industry was previously avoided by Berkshire during COVID, making this move a notable reversal. Delta's Q2 2026 earnings report showed adjusted EPS of $1.56 against a $1.50 consensus, its fifth consecutive quarterly beat.
The growth catalyst for Delta is diversifying high-margin revenue streams, which now account for 61% of total revenue. Premium product revenue rose 17%, loyalty revenue jumped 19%, and American Express remuneration hit $2.40 billion, up 16% year-over-year.
Berkshire also increased its GOOGL shares by 204% in Q1, initiating a brand new Class C position. Alphabet's Q2 2026 earnings report was a blowout, with EPS of $9.11 against a $3.04 consensus, on revenue of $119.80 billion, up 24.2% year-over-year.
The growth catalyst for Alphabet is Google Cloud, which saw revenue accelerating to 82% growth at $24.77 billion and operating income doubling. Lennar, the contrarian pick, saw Berkshire raise its stake by 43.24% in Q1. The housing recovery setup is engineered into the company's operations, with construction cycle time hitting a record-low 121 days.