Meet the Dividend Growth Stock That Warren Buffett Held for Decades, and Greg Abel Pegged as One of Berkshire Hathaway's Multidecade Compounders
American Express sold off after reporting earnings, but the company is at the top of its game.
Overview
On Jan. 1, Greg Abel succeeded Warren Buffett as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB), taking over a portfolio of publicly traded equities worth hundreds of billions of dollars, as well as other controlled companies worth even more -- such as Berkshire's insurance businesses, railroads, Berkshire Hathaway Energy, manufacturing, service, retail businesses, and more.
Abel wasted no time making some massive portfolio moves, including selling several small positions and pole-vaulting Alphabet (on Buffett's recommendation) to one of Berkshire's top five holdings. Amid the portfolio changes, Abel added steadfast conviction to Berkshire's largest holdings, saying that Berkshire's concentration in American Express (NYSE: AXP), Apple, Coca-Cola, and Moody's will continue, as Berkshire expects these companies to compound over decades.
Details
But it has been a rough year for American Express investors. The stock fell 4.3% on July 24 in response to its second-quarter 2026 earnings report, putting American Express down 11.8% year to date.
Source
Originally published at www.fool.com.