Berkshire Hathaway reduced its $330 billion equity portfolio under new CEO Greg Abel, exiting Visa and Mastercard while retaining American Express.
Berkshire Hathaway cut its equity portfolio from 42 to 29 stocks in Q1 under CEO Greg Abel, selling positions including Visa and Mastercard. The $330 billion portfolio saw Visa as its largest divestment, accounting for 1% of holdings, while Mastercard was a smaller stake.
The move aligns with Abel’s strategy to focus on high-conviction stocks. American Express, a long-term Buffett favorite, remains untouched alongside Coca-Cola and Apple. Buffett previously stated these three stocks would never be sold.
The decision reflects Berkshire’s preference for businesses with durable competitive advantages, a criterion American Express meets with its membership-based model.