Greg Abel took over as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) at the start of 2026, following Warren Buffett’s retirement from the chief executive role at the end of 2025.
Abel has largely maintained Berkshire’s investing philosophy, though he did exit positions in financial stocks including Mastercard (NYSE: MA) and Visa (NYSE: V) after assuming leadership.
Despite those moves, Berkshire continues to hold significant stakes in other financial services companies, and three of those holdings stand out as compelling opportunities in their own right.
American Express (NYSE: AXP), Chubb (NYSE: CB), and Moody’s (NYSE: MCO) each offer distinct investment cases that could reward patient investors looking beyond Berkshire itself.
Berkshire’s stake in American Express dates to a famous 1964 contrarian bet by Buffett during the “Salad Oil Scandal,” though Amex formally entered the Berkshire stock portfolio in the 1990s.
Today, Berkshire holds a 22.5% stake in American Express, representing roughly 13.5% of the overall portfolio, making it one of the conglomerate’s most significant positions.
Shares have roughly doubled since 2021, but recent turbulence followed a July earnings release where earnings of $4.53 per share beat forecasts, yet a slight revenue mix shift and lukewarm outlook rattled investors.
CEO Stephen Squeri noted successful membership growth among young and affluent spenders in his post-earnings commentary, suggesting the market’s negative reaction may prove overblown over a longer time horizon.
Trading at around 16 times forward earnings, Amex sits below its historical premium of over 20 times, leaving room for upside if results strengthen and sentiment shifts back in its favour.
Chubb entered Berkshire’s portfolio more recently, with the position first disclosed in 2024, and Berkshire now owns 8.9% of the insurer’s shares, representing about 3.2% of its overall portfolio.
The P&C insurer has surged nearly 25% over the past year, supported by its economic moat in specialty insurance and above-average underwriting margins that initially attracted Berkshire’s attention.
During Q2 2026, Chubb reported 18.2% growth in core operating income year over year, with book value and tangible book value rising 12.3% and 17.1% respectively compared to the prior year.
Chubb currently trades at less than 12 times forward earnings, and with rivals such as WR Berkley (NYSE: WRB) and Markel Group (NYSE: MKL) commanding even higher multiples, there is a credible case for further valuation expansion.
Moody’s (NYSE: MCO) has been a major Berkshire holding since the early 2000s, with Berkshire currently owning a 14.2% stake valued at approximately $11.5 billion, equal to about 3.2% of its total portfolio.
The credit rating agency benefits from a deep economic moat, given that corporations and governments issuing debt must secure ratings from one of only a handful of Wall Street raters for institutional investors to purchase those securities.
At roughly 24 times forward earnings, Moody’s trades at a premium to S&P Global (NYSE: SPGI), which fetches about 20 times, though S&P Global carries lower-margin, more competitive segments such as Market Intelligence.
Moody’s core business continues to justify its premium, with approximately 15% annualized sales growth, operating margins approaching 50%, and adjusted earnings and operating cash flow growth exceeding 30%.
For investors who believe Berkshire’s best days of dramatic capital appreciation may be behind it given its sheer size, these three holdings offer more targeted exposure to durable financial franchises with room to grow.
Each company carries its own risk profile, but the underlying business quality and competitive positioning that attracted Berkshire in the first place remain largely intact across all three stocks.
