Warren Buffett Steps Down: His Final Stock Picks Include Coca-Cola, Amazon, and Alphabet

TLDR

• Warren Buffett will step down as Berkshire Hathaway’s CEO at the end of 2025 after 55 years, making current portfolio picks his last confirmed selections
• Coca-Cola represents 10% of Berkshire’s portfolio at $28 billion, has raised dividends for 63 consecutive years, and provides over $200 million in annual dividend income
• Amazon holds a $2.2 billion position in Berkshire’s portfolio and recently announced a $35 billion investment in India through 2030
• Alphabet maintains a $5.5 billion position in Berkshire’s portfolio and controls 90% of global web searches through Google
• TD Cowen set a $300 price target for Amazon while Roth MKM set a $270 target, both with Buy ratings

Warren Buffett will step down as Berkshire Hathaway’s CEO at the end of 2025. The 55-year tenure marks the end of an era for investors who have followed his stock picks.

After his departure, Berkshire Hathaway’s future stock selections will no longer carry Buffett’s personal approval. Many investors have copied the conglomerate’s trades over the years. This change means the current portfolio represents the last confirmed Buffett-endorsed holdings.

Coca-Cola stands as Berkshire’s third-largest holding with a value of $28 billion. The position makes up 10% of the conglomerate’s entire publicly traded portfolio. Berkshire has held Coca-Cola stock for 19 years since Buffett first purchased shares in late 2006.

The beverage company has raised its dividend for 63 consecutive years. Berkshire’s 400 million shares generate more than $200 million in annual dividend income. The stock price has gained nearly 200% since Buffett’s initial purchase.

Coca-Cola’s Market Position

Coca-Cola spent over $5 billion on advertising last year alone. The company owns multiple brands including Gold Peak tea, Powerade sports drinks, Minute Maid juices, and Dasani water. Its product sales grew more than 8% through the first three quarters of this year.

The Coca-Cola Company, KO

Amazon represents a smaller position in Berkshire’s portfolio at $2.2 billion for 10 million shares. This accounts for less than 1% of total holdings. The position likely came from Todd Combs or Ted Weschler, who help manage Berkshire’s equity investments.

The e-commerce giant announced plans to invest $35 billion in India through 2030 on December 9. This builds on $40 billion already invested in the country. The investment will focus on artificial intelligence-driven digitization, export growth, and job creation.

Amazon has digitized over 12 million small businesses in India. The company has enabled $20 billion in cumulative e-commerce exports from the region. By 2030, Amazon expects to support 3.8 million jobs and quadruple cumulative e-commerce exports to $80 billion.

Amazon’s Expanding Services

The company is expanding same-day grocery delivery in the US to more than 2,300 cities and towns. Perishable goods represent 9 of the 10 bestselling items in areas with same-day delivery. Amazon trails Walmart in total online grocery sales but plans to close the gap.

Amazon.com, Inc., AMZN

Amazon Web Services contributes roughly 60% of the company’s total operating income. The cloud computing arm represents a minority of revenue but drives profits. Straits Research expects the worldwide cloud computing industry to grow from less than $1 trillion this year to nearly $3.7 trillion by 2033.

TD Cowen analyst John Blackledge maintained a Buy rating on Amazon with a $300 price target on December 10. Roth MKM analyst Rohit Kulkarni reaffirmed a Buy rating with a $270 target on December 8. Both analysts view the stock positively heading into 2026.

Alphabet holds a $5.5 billion position in Berkshire’s portfolio with 17.8 million shares. This represents less than 2% of total holdings. The position likely came from Combs or Weschler rather than Buffett directly.

Google handles 90% of the world’s web searches according to Statcounter. Alphabet owns multiple profit centers including YouTube, Gmail, and its cloud computing service. The company’s Android mobile operating system runs on 72% of the world’s mobile devices.

Alphabet has only failed to produce year-over-year quarterly revenue growth once in the past 10 years. That occurred during the beginning of the COVID-19 pandemic in early 2020. The company’s profit growth has been almost as consistent over the same period.

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