Warren Buffett Still Owns 400,000,000 Shares of This Iconic American Business

Over the last few quarters, Warren Buffett has been a huge seller of Apple stock. That's notable considering Apple is his biggest holding at Berkshire Hathaway. Apple isn't the only company Buffett is selling. He has also issued sell orders for another major holding, Bank of America. Yet there's one iconic business that Buffett refuses to sell. Berkshire's portfolio still holds 400 million shares of this business -- a business that has been a mainstay of that portfolio for decades. In 1987, Buffett made one of the biggest investments of his early career: a $1 billion bet on Coca-Cola (NYSE: KO) stock. At the time, stock markets were crashing, but Buffett believed in Coca-Cola's competitive advantages, namely its iconic brand image and global distribution capabilities. Coca-Cola has been in Berkshire's portfolio ever since. As of last quarter, Berkshire reported holding 400 million Coca-Cola shares worth nearly $29 billion. This year, Coke stock hit new all-time highs. And yet Buffett still refuses to sell. Why? It comes down to two simple reasons.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool