Coca-Cola (NYSE:KO) climbed 0.5% in early trading after Warren Buffett (Trades, Portfolio) once again spotlighted his decades-long stake at Berkshire Hathaway's (NYSE:BRK.B) annual meeting and vowed never to sell a single share.

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Thousands of shareholders packed Omaha's CHI Health Center on a bright Saturday morning as Buffett held court, two cans of Coke and a box of See's Candies on the table before him. KO's modest uptick outpaced the broader market's flat open, underscoring the stock's perennial allure whenever Buffett raises his glass.

At 94 years of age, I've been able to drink whatever I like, Buffett quipped, picking up a can of Coca-Cola before reassuring the crowd that the sugar-and-salt-heavy fare posed no threat to his longevity. He reminded attendees that his dietand his portfolioremain unchanged, telling investors to drink your Coke and calm down amid his announced plan to step down as CEO by year-end.

Berkshire has held Coca-Cola shares since 1988, and KO remains the conglomerate's longest-tenured consumer-staples holding. Today, that position is valued at over $27 billion and represents roughly 9.3% of Coca-Cola's outstanding stock, making Berkshire the company's largest single shareholder. Buffett first bought in after the 1987 crash at an average price of around $2.50 per share, and the stake has compounded into one of the world's most storied long-term investments.

Beyond nostalgia, Coca-Cola's enduring role in Berkshire's roster reflects its robust fundamentals: an unrivaled global distribution network, premium pricing power that has sustained mid-single-digit price/mix growth, and dependable free cash flow generation that funds both dividends and Buffett's signature share repurchases. In volatile markets, KO serves as a defensive anchor, smoothing overall portfolio returns when risk assets waver.

Analysts note that KO's 3% dividend yield remains attractive in a low-rate environment, and the company's dividend has grown for more than six straight decades. While beverage volumes in North America have dipped in recent quarters, emerging-market expansion and new product innovationssuch as zero-sugar variants and ready-to-drink coffeecontinue to bolster top-line growth.

That steadfast endorsement from Buffett matters because it signals confidence in Coca-Cola's ability to generate stable cash flows and weather economic downturns, even as he prepares to hand the reins to a successor. Some investors view his refusal to sell any KO shares as the ultimate vote of confidence in one of Wall Street's most recognizable brands.

Investors will watch how Coca-Cola shares react as Berkshire navigates management succession and consider whether Buffett's undiminished affection for KO still merits a place in modern portfolios ahead of his planned CEO exit.

Coca-Cola sits near the top of Buffett's roster at $24.9 billion, representing roughly 9.3% of his portfolio. Buffett has long prized KO's wide economic moat, built on unrivaled brand equity and global distribution. Its dependable cash flows and growing dividend yield anchor Berkshire's income generation. Through market cycles and economic slowdowns, Coca-Cola's resilient sales underscore its defensive appeal. As one of only two non-financial names in Buffett's top ten, KO exemplifies his buy and hold ethos. The stake highlights his faith in timeless consumer staples to weather volatility and compound value.