Berkshire increases Delta stake after record second-quarter revenue
Berkshire’s stake in Delta rose 44% in Q2 2026 to 57.3 million shares, following a roughly $2.6 billion position built by end-March. Delta reported record second-quarter revenue of $17.7 billion, with capacity up only ~1%, equity rising to $21.8 billion, and long-term debt falling to $10.5 billion. Operating cash flow was $8.1 billion and free cash flow $3.4 billion; full-year guidance calls for $6.50 to $7.50 EPS and $3–$4 billion free cash flow.