Berkshire Cuts Bank of America Stake, Delta Purchase

Berkshire Hathaway has been steadily trimming its Bank of America stake while rebalancing its portfolio under CEO Greg Abel, selling about 30.2 million BAC shares in Q2 2026 and reducing the position to roughly 483 million shares, a move valued at around $1.7 billion at quarter-end prices. The divestment continues a multi-year trend that began under Buffett and accelerated in Abel’s tenure, with Berkshire shifting capital toward other holdings, including a meaningful Delta Air Lines stake added in the same period. Despite the selloffs, BAC remains a large holding for Berkshire, valued at about $27.5 billion, and the bank’s dividend has historically grown, contributing a steady, rising payout that Berkshire’s large stake amplifies for income-focused investors. The broader context shows Abel's portfolio strategy prioritizing new growth areas and reallocation away from legacy banking positions, alongside notable increases in other bets like Alphabet. Taken together, the moves illustrate a deliberate restructuring of Berkshire’s U.S. equity portfolio, balancing continued BAC exposure with a shift toward airlines and technology investments.