Warren Buffett is set to step down as CEO of Berkshire Hathaway in less than two weeks, leaving behind a $318 billion investment portfolio concentrated in top ideas with competitive advantages and strong capital-return programs.

Despite selling 74% of Berkshire’s Apple shares since 2023, the tech giant remains the largest holding at $66.3 billion. Apple’s loyal customer base, leadership, and robust subscription services have impressed Buffett, who values the company’s market-leading capital-return program.

American Express, the second-largest holding at $58 billion, has benefited from attracting affluent clients and a low cost basis, generating a 37% annual yield. The credit-services titan’s dual role in payments and lending positions it for long-term success.

Bank of America, with $31.3 billion in holdings, has seen significant selling by Buffett but remains a core investment. The bank’s cyclical nature and Fed-friendly policies make it an attractive long-term pick despite potential interest rate challenges.

Coca-Cola, held since 1988, is valued at $28.2 billion and stands out for its predictable operating model and steady dividends. With operations in most countries and a history of dividend increases for 63 years, Coca-Cola remains a cornerstone of Berkshire’s investment strategy.

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