The Goldman Sachs Strategic Factor Allocation Fund initiated a fresh position in American Express Co by acquiring 9,203 shares during the most recent quarter. This transaction marks the fund’s first direct exposure to AXP, signaling confidence in the credit-card issuer’s ability to generate fee income and maintain strong returns on equity. Given American Express’s leading share of the premium-card market and its history of delivering double-digit percentage growth in dollar-based net card member spending, the addition of AXP aligns with the fund’s strategy of blending value and strategic beta exposures. Investors will be watching subsequent quarterly filings to see if Goldman Sachs increases its stake as AXP continues to benefit from rising consumer charge volumes and its expanding merchant network.