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Finance

Berkshire sells entire stakes in Visa, Mastercard; not due to performance

Berkshire Hathaway has sold its entire stakes in Visa and Mastercard, prompting market focus on whether the move signals a broader portfolio reshuffle. A quarterly report showed Berkshire also fully exited some holdings such as Amazon. The sales are being read as the first major rebalancing under Greg Abel, who is effectively leading portfolio management, and may reflect a move away from positions linked to Todd Combs. Visa’s recent business indicators were described as solid.

Industry

Berkshire Hathaway shares lag rebound, marking worst performance this century after Buffett departure

Berkshire Hathaway has lagged a recent U.S. stock market rebound, posting its biggest relative underperformance so far this year. The S&P 500 broke above 7,100 for the first time, while Berkshire’s A and B shares fell less than 1 percent this month. The stock is more than 12 percent below its record high in May last year. Analysts link the weakness to Warren Buffett’s retirement plan and investor focus on successor Greg Abel.