Greg Abel Has 53.6% of Berkshire Hathaway's Stock Invested in These 4 Top Stocks

It's the Greg Abel era at Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB), but it doesn't look too different than the Warren Buffett era. In fact, the most significant change started happening under Buffett's watch. That's the addition of Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) to the portfolio, and Buffett claimed responsibility for the expansion of the position, which happened after he stepped down as CEO.

Alphabet now represents 9.9% of the total portfolio, the third-largest position. Apple (NASDAQ: AAPL) remains the largest position, accounting for 20.2%, and American Express (NYSE: AXP) is second at 13.7%. Coca-Cola (NYSE: KO) is down to fourth place, just behind Alphabet with 9.8%. Together, these four stocks make up 53.6% of Berkshire Hathaway's equity portfolio.

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1. Apple

Apple has been the largest position in the portfolio for years, and it grew to more than half of the total before management began selling it off at the end of 2023. Rather than signaling disappointment with the stock, which is still by far its biggest bet, it seems to have lowered its concentration risk.

Apple is everything Buffett always talks about. That starts with excellent management, and Tim Cook shepherded it to become the most valuable company in the world on his watch. John Ternus took over as CEO on Sept. 1, and he has honed his skills as an Apple veteran. It has a strong economic moat in its interconnected ecosystem of products people love. Customers who adopt the ecosystem typically purchase several Apple-branded products that work together and frequently upgrade to new models.

The iPhone continues to see incredible demand, and three of its models -- the iPhone 17, the iPhone 17 Pro Max, and the iPhone 17 Pro -- are the three best-selling smartphones in the world, according to Counterpoint Research. The iPhone 17 itself accounts for 6% of the global market. That's a lead that's hard to compete with.

The company is also highly profitable, and perhaps most importantly for Buffett, it plays a large role in the economy as a consumer goods giant. Finally, it pays a dividend, and even though it yields only 0.3%, it demonstrates its commitment to its shareholders.

2. American Express

Buffett has praised American Express for its global, travel-friendly brand, and it's the classic Buffett stock in many ways. Like Apple, it plays a major role in the economy, and as a financial company, it helps drive economic activity.

However, it has a unique, differentiated model that sets it apart as an excellent business. It has a closed-loop credit card network, which means that it funds its own loans. It also has a stand-alone bank, and instead of forging partnerships with issuing banks, it handles everything in-house. That brings lots of cash into its system and allows the company to carefully curate its customer base and rewards program.

Image source: American Express.

It also focuses on an affluent clientele that is more resilient under pressure and willing to pay annual fees for the privilege of using an Amex card and receiving the coveted rewards. The fees provide a recurring revenue source and go straight to the bottom line. Card fees increased 15% year over year in the 2026 second quarter, while total revenue increased 10%.

American Express' dividend yields 1.1% at the current price, and it has years of growth ahead as it powers the high-income U.S. consumer.

3. Alphabet

Alphabet is a recent Berkshire Hathaway buy and the portfolio's only real artificial intelligence (AI) stock. It's unlikely that Buffett and Abel bought it for AI, though. It's also a global tech giant because it holds dominant positions across many areas, starting with Search, where it has about 90% of the market, according to Statista.

YouTube and Android are two other dominant businesses, and of course, the AI business is skyrocketing. Google Cloud sales increased 82% year over year in the second quarter, and it has a $514 billion backlog that continues to grow.

Although Alphabet seems like a departure from the typical Buffett stock with its tech and AI focus, its leading position in several important businesses is consistent with what Buffett loves in great companies. In many ways, it's just getting started, and it has robust long-term opportunities.

4. Coca-Cola

Last but not least, Coca-Cola is Berkshire Hathaway's longest-held position. It was the stock Buffett was talking about when he said his favorite holding period is forever, and it continues to create value for the company.

Coca-Cola is a Dividend King, or a company that has raised its dividend for 50 years or more, with one of the longest track records on the market; this year was the 64th consecutive year that it raised its dividend. Berkshire Hathaway is scheduled to receive $848 million in dividends from Coca-Cola stock in 2026 alone, which implies a yield of 65% on the cost basis of the original position, which was $1.3 billion. That increases every year along with the dividend.

Like the other stocks on the list, Buffett loves Coca-Cola's leading position and its role as a beverage that loyal fans love in all conditions; it's unlikely to be replaced by new tech. The stock is trouncing the market this year, up 26% year to date as investors appreciate its strong performance despite inflation, and it should continue to reward shareholders for the foreseeable future.

American Express is an advertising partner of Motley Fool Money. Jennifer Saibil has positions in American Express and Apple. The Motley Fool has positions in and recommends Alphabet, American Express, Apple, and Berkshire Hathaway. The Motley Fool has a disclosure policy.