Berkshire Hathaway sold its entire stake in Visa and Mastercard this year but still holds significant stakes in American Express (22%) and Moody's (14%). The American Express stake is valued at more than $47 billion, and the company earns interest on card balances as well as fees from merchants and cardholders, with its Platinum Card carrying a $895 annual fee. In the second quarter of 2026, American Express reported revenue of $19.6 billion, up 10%, and EPS up 11% to $4.53, and it raised its full-year revenue growth outlook to 10%. Moody's reported second-quarter 2026 revenue of $2.2 billion, up 15%, and Berkshire holds about 24.7 million shares, nearly 14% of the company. The author argues both companies have durable competitive advantages that suit long-term investors.
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