Greg Abel took over from Warren Buffett at the start of this year and has sold several smaller Berkshire positions, while top holdings such as Apple, American Express, Coca-Cola, Alphabet and Bank of America remain largely intact, making up nearly 50% of the portfolio. The author highlights Coca-Cola, a stake Buffett began buying in 1988 and has not sold, noting that Berkshire recoups most of its initial investment each year from dividends alone. Coca-Cola has raised its dividend for 64 consecutive years, but its 2.3% yield is below its 10-year average of about 3%, and the shares trade at nearly 28 times trailing earnings. Analysts estimate earnings will grow about 8% a year over the next 3 to 5 years. The author cites the company's durability and growth outlook amid a shaky market as reasons it remains a top pick for November.
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