Berkshire increases its holdings in Delta Air Lines and Alphabet as the new CEO begins to utilize its massive cash reserves.

As Greg Abel starts to tap into Berkshire's massive cash reserves, the company has increased its stakes in Delta Air Lines and Google's parent company, Alphabet. According to regulatory filings released on Friday, during the second full quarter following Abel's succession of Chairman Warren Buffett as CEO, Berkshire added 17.5 million shares of Delta Air Lines, bringing the value of its holdings to $5.37 billion as of the end of June. Abel also increased his position in Alphabet by 48.1 million shares, making it Berkshire's third-largest holding, with a mid-year value of $37.8 billion. When Berkshire announced its second-quarter results last week, it noted that it also spent about $4.5 billion to buy back its own shares during the quarter, while net buying nearly $20 billion in other stocks. As of mid-year, the company held $365.5 billion in cash, down from a record $397 billion at the end of March.