American Express Company

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 2,852 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Berkshire Hathaway is the largest shareholder by a wide margin, at 22.45 percent of shares outstanding (151,610,700 shares). Its own Form 13F-HR for the quarter ended 30 June 2026 (filed 14 August 2026) reports the identical 151,610,700 share count across three CUSIP 025816109 lines (three separate Berkshire subsidiary filers on the same information table, summed here as one position, per the brief), and American Express's own 25 March 2026 proxy statement reports the same 151,610,700 shares at 22.1 percent as of 31 December 2025 data. The two sources agree exactly: no reconciliation was needed. Of those shares, the proxy states National Indemnity Co. and its subsidiaries beneficially own 149,061,045, with Warren Buffett, Berkshire and certain Berkshire subsidiaries sharing voting and investment power.
• In 1995 American Express signed an agreement with Berkshire (amended from time to time) designed to keep Berkshire's investment passive. The passivity commitments remain in effect as long as Berkshire owns 10 percent or more of Amex's voting securities, and Berkshire made similar commitments to the Federal Reserve Board of Governors. Separately, Berkshire and its subsidiaries have agreed to vote Company common shares they own, up to 17 percent of shares outstanding, in accordance with the Board's recommendations for as long as Stephen Squeri is CEO and Berkshire owns 5 percent or more of Amex's voting securities. With certain exceptions, Berkshire may not sell Amex shares to anyone who owns more than 5 percent of Amex's voting securities or who is attempting to change control of the company. Source: 2026 proxy statement, Stock Ownership Information section.
• Vanguard and BlackRock disagreement, recorded rather than resolved. The register uses each manager's own Form 13F-HR: Vanguard 46,109,777 shares as of 31 December 2025 (Vanguard filed Form 13F-NT, a notice only, for the quarters ended 31 March 2026 and 30 June 2026, so no fresher Vanguard 13F-HR share count exists under CIK 0000102909, mirroring the same gap seen in the Broadcom research); BlackRock 42,006,392 shares as of 30 June 2026. American Express's own 2026 proxy statement instead cites Vanguard at 46,637,192 shares (6.8 percent) and BlackRock at 44,114,286 shares (6.4 percent), but both proxy figures are sourced to Schedule 13G filings made in February 2024 reporting data as of 31 December 2023, roughly two years staler than the 13F data used here.
• Percentages are computed by this research against a stated share count, not taken from a filing, except for Berkshire's proxy-reported 22.1 percent and the two insider rows, which reproduce the proxy's own math. The 30 June 2026 13F rows use 675,309,833 shares outstanding as of 14 July 2026 (Q2 2026 10-Q cover page). The Vanguard row (period 31 December 2025) uses 686,000,000 shares, the rounded figure from Table 15.1 of the FY2025 10-K for shares issued and outstanding as of 31 December 2025.
• The register's rows outside Berkshire and the insider group sum to roughly 25.4 percent of shares outstanding, and all sourced rows together (excluding the aggregate insider row, which overlaps the CEO row) sum to about 47.8 percent. That is well under 100 percent and consistent with the brief's expectation that index managers look smaller here than at a widely held company, because Berkshire alone accounts for over a fifth of the stock.
• American Express's largest disclosed non-strategic-subsidiary holding is its approximately 30 percent equity interest in Global Business Travel Group, Inc. (GBTG), an equity method investee originally created via GBT's 2022 SPAC combination. On 2 May 2026 GBTG agreed to be acquired by Long Lake (backed by General Catalyst and Alpha Wave) in an all-cash take-private transaction; American Express signed a Voting and Support Agreement (filed as Schedule 13D/A, Amendment No. 3, 4 May 2026) and expects to dispose of its stake at closing, subject to regulatory approval and other customary conditions, for expected proceeds of approximately $1.5 billion and an expected pre-tax gain of approximately $975 million.
• American Express also discloses a combined balance of 'equity investments without readily determinable fair values, which include investments in our Amex Ventures portfolio,' totaling $1.4 billion as of 30 June 2026 (versus $1.1 billion at 31 December 2025), per the Q2 2026 10-Q fair value note. This is a single combined balance covering the whole Amex Ventures venture portfolio plus other equity-method investments and is not broken out by counterparty anywhere in the 10-Q or 10-K, so per the brief's rule against distributing a bucket across its members, no individual holding is recorded for it here; it is listed only as an unknown below.
• Excluded from holdings as wholly owned or non-strategic: Kabbage (acquired, now the subject of post-bankruptcy litigation from its wind-down estate, not an equity stake), the FY2023-acquired card-related businesses, and ordinary money-market/investment-securities balances. Swisscard, a former equity-method investee, was fully acquired in 2025 per the Q2 2026 10-Q, converting it from a holding to a wholly owned subsidiary.
• The market capitalisation of $231.28 billion is the figure published on stockanalysis.com as of 14 August 2026, corresponding to a share price of $342.48.