Just been looking at some of the Warren Buffett stocks that are still sitting in Berkshire's portfolio, and honestly there's some interesting plays here worth digging into right now.

So here's the thing - we're seeing U.S. household debt hit record levels at $18.8 trillion, and delinquencies are climbing to near decade highs around 4.8%. That's usually bad news for lenders, right? But not every financial player is getting hit equally. American Express has actually held up pretty well through this pressure, and I think people are sleeping on it.

Amex is now Berkshire's second largest position at over $47 billion - wild that it's climbed that high. The stock pulled back almost 20% from December's peak mostly on recession fears and concerns about consumer spending. But here's what's interesting: their cardholders are predominantly affluent, and luxury spending actually grew 15% year-over-year in Q4, nearly double the 8% growth in overall billed business. That tells you something about who they're serving. This 20% dip might be the discount window closing soon.

Then there's Constellation Brands, the Corona and Modelo company. Berkshire just got into this one late last year and it hasn't paid off yet - shares are down since entry. Gallup data shows only 54% of Americans regularly drink alcohol now, a multidecade low. Looks bad on paper, but the beverage industry is cyclical as hell. When consumer confidence bounces back, so will demand. Plus management is actively cleaning house - divested lower-margin wine brands last year, and new CEO Nicholas Fink brings fresh thinking. This weakness could be temporary.

Now, not everything Buffett touches turns to gold. DaVita is a perfect example of when patience doesn't pay off. Berkshire bought into this kidney dialysis business back in 2011 when conditions were favorable. Fast forward to now - revenue is up only 5% year-over-year through Q3 fiscal 2025, but net income is down 17%. The entire healthcare sector is facing brutal headwinds with insurance reimbursement pressure that doesn't look like it's ending anytime soon. Even Berkshire finally got tired of waiting - they've been steadily reducing this position since early 2025, and new CEO Greg Abel is continuing that exit strategy.

So if you're looking at Warren Buffett stocks to add right now, the financial resilience of Amex and the cyclical turnaround potential of Constellation look more compelling than hanging on to struggling healthcare plays. The market's pricing in worst-case scenarios on some of these - worth considering whether that's actually justified.