Berkshire Hathaway filing points to Macy's as Buffett's 'tiny purchase'

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Berkshire’s Macy’s investment

Highlights

Berkshire Hathaway disclosed a new $55 million stake in Macy's during Q1, aligning with Buffett's March reference to a 'tiny purchase'.
Berkshire's first-quarter activity included a much larger $2.6 billion investment in Delta Air Lines and sales of stocks such as Mastercard and Visa.
Buffett, though no longer CEO from early 2026, remains actively involved in investment oversight and daily trading decisions alongside Greg Abel and Mark Millard.

Portfolio filing sheds light on March remark

As reported by CNBC, a regulatory filing released Friday shows Berkshire opened a roughly $55 million stake in Macy's during the first quarter. That size appears consistent with Buffett's March comment that the company had made "one tiny purchase" while continuing to struggle to find attractive opportunities.

Buffett made the remark in an interview with CNBC's Becky Quick when asked whether Berkshire was still putting money to work. Berkshire's other newly disclosed first-quarter position, a roughly $2.6 billion investment in Delta Air Lines, is much larger and appears less likely to be the purchase he had in mind.

The filing does not necessarily provide a complete picture of Berkshire's activity. Quarterly equity disclosures cover U.S.-listed holdings that meet reporting thresholds, leaving open the possibility that Buffett was referring to an international investment or another position not captured in Friday's filing.

Buffett remains active after leadership handover

Buffett, who stepped down as Berkshire's chief executive at the start of 2026 and handed the role to Greg Abel, says he remains closely involved in investment oversight and market activity. He says he still goes to the office daily and works with colleagues on trading decisions, including regular discussions with Berkshire director of financial assets Mark Millard before the opening bell.

Millard executes trades based on those conversations, highlighting Buffett's continued role in portfolio management despite the leadership transition. Buffett also says he does not make investments that Abel views as wrong and that Abel receives the daily trading sheet.

During the first quarter, Berkshire also sold a range of stocks including Mastercard and Visa as it unwinds positions tied to longtime investment manager and Geico chief Todd Combs, who left for JPMorgan at the end of 2025. Ted Weschler continues to oversee about 6% of Berkshire's holdings.

Berkshire Hathaway’s first-quarter regulatory filing drove notable premarket moves, with Macy’s rising after Berkshire disclosed a roughly $55 million stake and Delta Air Lines gaining on news of a much larger $2.6 billion position. Our earlier coverage also noted that the same filing showed Berkshire trimming UnitedHealth, adding to stock-specific volatility alongside other event-driven catalysts across the market.

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