Coca-Cola (NYSE:KO) stock hit all-time highs Tuesday after the company reported second-quarter financial results. Somewhere, while drinking one of his daily Coke beverages, legendary investor and longtime Coca-Cola investor Warren Buffett was likely smiling.
Buffett’s Big Coca-Cola Bet
Buffett, former CEO of Berkshire Hathaway (NYSE:BRK)(NYSE:BRK), first invested in Coca-Cola stock in 1988.
Over the years that position grew and now sits at 400 million shares as one of the largest and oldest positions in the Berkshire Hathaway investment portfolio.
Buffett stepped down from the CEO role of Berkshire Hathaway at the end of 2025 and was succeeded by Greg Abel.
As Berkshire Hathaway investors found out in 2026, Abel may have different plans for many of the long-time stock holdings previously held under Buffett’s leadership.
Abel made numerous changes to the Berkshire Hathaway stock holdings in the first quarter, as revealed by a 13f filing after the quarter. The changes included exiting old positions in companies like Visa and Mastercard and cutting stakes in Chevron and Bank of America, two of the largest positions in the portfolio.
The stake in Coca-Cola of 400 million shares remained the same in the first quarter, which is a good thing for Abel and shareholders.
The Coca-Cola stake was worth $30,808,000,000 at the end of the first quarter. Today, that position has grown to $35,888,000,000, up $5,080,000,000 since the end of the first quarter.
Since the end of 2025, the Coca-Cola stake is up more than $7.9 billion.
Read Also: QUICK SPARK: Coca-Cola Stock Hits Record High After Earnings
What’s Next for Coca-Cola, Berkshire?
With only one 13F filing submitted since Abel took over, there’s still plenty of time for the new Berkshire CEO to make changes to old positions started under Buffett. Changing the Coca-Cola stake doesn’t seem likely based on comments made by Abel in a shareholder letter.
“Apple, American Express, Coca-Cola, and Moody’s – businesses we understand well, have a high regard for their leaders, and expect will compound over decades,” Abel previously wrote.
Keeping Coca-Cola stock going forward may be a great idea based on the company’s earnings and guidance.
Coca-Cola reported sparkling soft drink volume growth of 4% year-over-year in the quarter and water, sports, coffee and tea segment volume growth of 6% year-over-year. The company highlighted strong growth of Coca-Cola and Powerade brands thanks to the 2026 World Cup, with trademark Coca-Cola having its best quarter for volume growth in 17 years.
Thanks to the strong second quarter, Coca-Cola raised its full-year organic revenue growth outlook and earnings per share forecast.
The boost in Coca-Cola stock could help Berkshire Hathaway shares rebound. The conglomerate is nearing its 52-week high and the stock is currently at an eight-month high with shares up 2.9% year-to-date.
Berkshire stock trailed the S&P 500 in 2025 and is currently trailing the 7.9% gain of the key market index in 2026.
Strong earnings reports from top holdings like Coca-Cola could help boost Berkshire Hathaway’s stock price and prove that Abel is picking the right stocks to keep in the investment portfolio.
Read Also: Warren Buffett's Final Top 10 Stock Holdings: Which Ones Will Greg Abel Likely Sell?
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