Warren Buffett's successor is not holding back from making significant changes.

Greg Abel, Berkshire Hathaway's new CEO since January 1, oversaw extensive modifications to the conglomerate's portfolio in the opening quarter of the year, as disclosed in a regulatory filing on Friday.

Berkshire created a new position in Delta Air Lines amounting to $2.6 billion by March's end, representing its comeback to airline stocks.

The firm also expanded its Alphabet stake, parent of Google and prominent in the AI surge, by more than three times.

Following the purchase of nearly 18 million shares in the search and advertising leader during last year's third quarter, the holding stayed put during Buffett's concluding period as CEO.

That shifted last quarter when the investment grew to nearly 58 million shares, valued at about $17 billion at the close of March.

Abel appeared to dispose of numerous holdings chosen by Todd Combs, a former investment manager under Buffett. Buffett, still chairman, noted in December that Combs had departed for JPMorgan to work with Jamie Dimon.

Berkshire sold its stakes in Visa, Mastercard, UnitedHealth, Domino's Pizza, Amazon, Charter, Diageo, and additional firms. These moves cut the total holdings down to roughly two dozen.

Abel further trimmed positions in Chevron, Nucor, and Constellation Brands.

In contrast, Abel and his team included Macy's in the portfolio and nearly tripled the New York Times stake set up in the previous quarter, raising it to around 15 million shares worth approximately $1.3 billion on March 31.

Berkshire signaled major portfolio adjustments in its first-quarter results released earlier this month. The report indicated sales of roughly $24 billion in stocks and acquisitions totaling about $16 billion.

The wager on Delta is poised to astonish dedicated Berkshire observers.

Buffett famously divested from the four largest US airlines in April 2020, acknowledging it as a mistake. In his 2007 shareholder letter, he labeled the airline sector a bottomless pit and remarked that a forward-thinking capitalist at Kitty Hawk would have done a service by shooting Orville down.