A New Era at Berkshire Hathaway
The year 2026 marks a significant transition for Berkshire Hathaway. Following six decades under the leadership of Warren Buffett, the conglomerate entered a new chapter at the start of this year as Greg Abel officially took the helm as chief executive. Investors have been scrutinizing the company’s latest 13F filings to understand how the new leadership might alter the firm’s long-term investment strategy. One of the most notable developments in the latest report is the complete exit of Berkshire’s position in fintech giant Mastercard.
The History and End of a Long-Term Investment
Berkshire Hathaway’s journey with Mastercard began in the first quarter of 2011, when the firm initially acquired 216,000 shares. Over the following years, Berkshire aggressively expanded its position:
- 2011-2012: Steady accumulation, including a 137.8% increase in Q2 of 2012.
- 2014: A period of significant expansion, marked by a 900% increase in shares during the first quarter.
- 2015-2021: Following years of growth, the firm began periodically trimming its stake, with notable reductions in 2020 and 2021.
The definitive move occurred in the first quarter of 2026, when Berkshire sold its remaining 3.99 million shares. The sale was executed at an average price of $525.64, with the stock price fluctuating between $484.24 and $580.34 during the period. Notably, Berkshire also liquidated its entire stake in Visa during the same quarter.
Mastercard’s Continued Growth Outlook
Despite Berkshire’s exit, Mastercard’s leadership remains optimistic about the company’s trajectory. During the Bernstein Strategic Decisions Conference in May 2026, CEO Michael Miebach highlighted strong consumer spending metrics, supported by low unemployment and wage growth. Key drivers for the company include:
- Value-Added Services: Now accounting for 40% of total revenue, these services are outpacing the core business growth.
- Technological Innovation: Mastercard is heavily investing in AI-powered fraud detection, tokenization, and agentic commerce infrastructure.
- Strategic Expansion: The company is moving into stablecoin payments via the pending acquisition of BVNK and has successfully established a domestic footprint in China.
“We’re well positioned to capture the next wave of digital payments growth and continue to support secure commerce around the world,” Mastercard CEO Michael Miebach stated during the Q1 earnings call.
What the Shift Means for Berkshire
Market observers suggest that the simultaneous exit from both Mastercard and Visa signals a shift in portfolio management under Greg Abel. While Warren Buffett had become comfortable with payment networks later in his tenure, Abel appears to be applying his own risk lens to the company’s holdings. Although analysts remain bullish on Mastercard, with consensus targets suggesting a potential 29% upside from current levels, the move confirms that Berkshire is not necessarily bound to legacy positions, regardless of the strength of the underlying fundamentals.
