Warren Buffett Called Airlines the "Worst Sort of Business." His Successor Just Built a $5.4 Billion Position Anyway.

Berkshire Hathaway’s CEO Greg Abel added 17,510,544 shares of Delta Air Lines during the second quarter of 2026, increasing the stake to 57,320,000 shares valued at about $5.37 billion as of June 30, 2026, based on a 13F filed August 14. Delta became Berkshire’s largest buy of the quarter after Alphabet, and remains the only airline position in the portfolio. The article says Berkshire had introduced a new Delta position in Q1 2026 with 39,809,456 shares worth roughly $2.65 billion, then raised it by about 44% in Q2. It also notes Berkshire exited Constellation Brands and trimmed several other holdings. Delta highlighted higher-margin revenue streams, including loyalty and American Express remuneration.