Berkshire Hathaway maintained its position in American Express during the first quarter of 2026 despite selling its entire stakes in Visa and Mastercard [1, 2].
This shift in the payment sector portfolio highlights a strategic preference for business models that blend network scale with fee and interest income. By exiting two global giants while holding another, the conglomerate signals a specific valuation of brand loyalty and premium service over pure transaction processing.
According to reporting from MSN, Berkshire Hathaway sold $24 billion of stocks in Q1 [2] while buying $16 billion in new shares [2]. The complete divestment of Visa and Mastercard stands out against the continued retention of American Express, which has been a core holding for decades [1].
Analysts said the decision stems from the unique nature of American Express. The company is viewed as a "wonderful business" due to its premium brand and strong customer loyalty [3, 4]. Unlike the pure-play payment networks, American Express operates a closed-loop system that provides deeper control over the customer experience.
"American Express is a quintessential Warren Buffett investment that Berkshire Hathaway has owned for decades," an AOL report said [1]. The stock is not typically seen as a headline-grabber, but it has delivered steady results year after year [2].
Buffett has previously emphasized his preference for high-quality companies. In a 2023 letter to shareholders, he used the phrase "wonderful businesses" to describe his ideal investments [4]. The retention of American Express suggests the company still meets these criteria, while the other payment networks no longer do.
“American Express is a quintessential Warren Buffett investment that Berkshire Hathaway has owned for decades”
The decision to purge Visa and Mastercard while keeping American Express suggests a pivot away from the broader payment infrastructure toward a more integrated, high-end consumer financial model. This indicates that Berkshire Hathaway may be prioritizing the stability of a loyal, affluent customer base over the growth potential of the global digital payment rails during a period of significant portfolio rebalancing.
