Warren Buffett’s 2023 Portfolio: Top 5 Stock Picks

3. American Express Company (NYSE:AXP)

Number of Hedge Fund Holders: 71

Warren Buffett’s Berkshire Hathaway’s Holdings: $25,008,184,965        

Percentage of Warren Buffett’s Berkshire Hathaway’s Portfolio: 7.69%

Warren Buffett’s Berkshire Hathaway holds over 151.6 million shares in American Express Company (NYSE:AXP) as of Q1 2023. The hedge fund initiated a stake in the company in Q4 2010 at an average quarterly share price of $42.19.

In April, American Express Company (NYSE:AXP) reported a stable consumer credit card delinquency rate of around 1.1%. The figure has not changed since February 2023 and is still below the delinquency rate of 1.4% during the COVID-19 pandemic. The Buffalo, New York-based payment cards company saw its total loans increase from $71.9 billion on March 31 to $73.8 on April 30. It must be noted that American Express Company (NYSE:AXP) and Coca-Cola have been two of the mainstays of Warren Buffett’s portfolio for a long period, and Buffett thinks that they will remain a part of his portfolio permanently.