Major Hedge Funds Load Up on Microsoft, Alphabet, Amazon, Delta, and Uber in Q1 2026

TLDR

• Bill Ackman’s Pershing Square opened a new position in Microsoft after a price pullback, while exiting Alphabet
• Berkshire Hathaway grew its Alphabet stake from 18 million to 58 million shares, valued at around $16.6 billion
• Berkshire made a surprise return to airlines, opening a new Delta Air Lines stake worth $2.65–$3 billion
• Appaloosa and Pershing Square both added to Amazon, though Berkshire trimmed its position
• Appaloosa and Pershing Square added Uber shares, with Appaloosa’s position reaching around $455 million

Some of the world’s biggest investors made major moves in Q1 2026, according to the latest round of 13F filings. These filings show holdings as of March 31, 2026, and are released with a delay, so they reflect past positions, not current ones.

The moves point to continued interest in artificial intelligence, cloud computing, e-commerce, and platform businesses.

Ackman Buys Microsoft, Berkshire Doubles Down on Alphabet

Bill Ackman’s Pershing Square opened a brand new position in Microsoft during the first quarter. Ackman bought in after the stock pulled back and saw the valuation as attractive, according to Reuters.

Microsoft Corporation, MSFT

At the same time, Pershing Square exited its Alphabet position. That makes it a direct rotation from one AI and cloud giant to another.

Microsoft has exposure to Azure, its partnership with OpenAI, GitHub, and Microsoft 365 Copilot. These are key parts of the AI story investors are watching in 2026.

Berkshire Hathaway moved in the opposite direction. It grew its Alphabet stake from around 18 million shares to 58 million shares. Barron’s reported the position was valued at roughly $16.6 billion.

That is a major vote of confidence in Google Search, YouTube, and Alphabet’s cloud and AI infrastructure. The two trades show that major investors are not aligned on which AI company comes out ahead.

Berkshire Returns to Airlines With Delta Stake

One of the more unexpected moves this quarter came from Berkshire Hathaway. The firm opened a new position in Delta Air Lines worth roughly $2.65 billion, according to Reuters. Barron’s put the figure closer to $3 billion.

This is a meaningful shift. Berkshire had stepped back from airlines after the pandemic. A return to the sector, specifically to Delta, is a contrarian call given rising fuel costs and economic pressure on travel.

Delta is the largest U.S. airline by revenue and has focused on premium travel and loyalty programs to support margins.

Amazon and Uber Draw Buying From Multiple Funds

Amazon attracted buying from two major funds. David Tepper’s Appaloosa added 2.1 million Amazon shares, making it the fund’s largest holding at roughly $900 million. Pershing Square raised its Amazon position by 19%.

Berkshire trimmed its Amazon stake during the same period. Even so, the buying from Tepper and Ackman keeps Amazon among the most watched positions of the quarter.

Uber rounded out the five stocks. Appaloosa added about 4.5 million shares, bringing its total Uber position to around $455 million. Pershing Square also held Uber as a major position.

Uber appeals to large funds because it combines ride-hailing, food delivery, advertising, and improving profit margins.

Taken together, the five stocks — Microsoft, Alphabet, Delta, Amazon, and Uber — show where major capital was being deployed as 2026 began.

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