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Have you ever wondered what company has filled Warren Buffett’s coffers the most? As someone who’s followed the Oracle of Omaha for years, I’ve always been fascinated by his investment choices and how they’ve performed over time Today, I’m gonna break down which company has been Buffett’s most profitable investment and explore his other top holdings that have contributed to his legendary status in the investing world.
Apple: The Crown Jewel of Buffett’s Portfolio
Spoiler alert: It’s Apple.
Yep, Apple Inc. has made Warren Buffett more money than any other investment in his storied career. This might come as a surprise to many, considering Buffett was famously tech-averse for most of his investing career. But the numbers don’t lie!
According to recent data, Berkshire Hathaway’s investment in Apple has been nothing short of spectacular
- Initial investment: Approximately $10 billion (beginning in 2016)
- Peak market value: Over $75 billion (as of late 2024)
- Holding period: Around 9 years
That’s a gain of roughly $65 billion in less than a decade! In fact, Buffett himself recently joked that Apple CEO Tim Cook had made more money for Berkshire than he (Buffett) ever had.
The Apple Investment Timeline
Berkshire first disclosed its position in Apple in early 2016, but the bulk of the purchases occurred later that year and in early 2017. Interestingly, Buffett sold some Apple shares between 2018-2020, which he later called a “dumb decision”
By mid-2024, Berkshire had sold about half of its Apple stake, but it still remains one of the conglomerate’s largest holdings. At the 2024 Berkshire annual meeting, Buffett told shareholders that Apple would likely remain a top holding for years to come.
Why Apple? What Made It Such a Winner?
Buffett’s massive win with Apple came from recognizing several key factors:
- Strong brand loyalty – Apple users tend to stay within the ecosystem
- Pricing power – Apple can charge premium prices for its products
- Excellent leadership under Tim Cook
- Massive cash flow generation
- Consistent share repurchases that increased Berkshire’s ownership percentage over time
In 2023, Buffett told shareholders that Apple “just happens to be a better business than any we own.” High praise from someone who owns dozens of excellent businesses!
Buffett’s Other Major Money-Makers
While Apple has been Buffett’s biggest winner in terms of dollar gains, several other investments have delivered incredible returns over longer periods:
American Express (AXP)
- Initial investment: $1.3 billion in the mid-1990s
- Current market value: Approximately $45 billion (end of 2024)
- Holding period: 31 years and counting
- Dividend growth: From $41 million in 1995 to $409.3 million in 2024
American Express represents one of Buffett’s longest-held public company investments. Interestingly, Buffett had previously owned the stock in the 1960s during his investment partnership days, following a scandal that briefly threatened the company’s solvency.
Coca-Cola (KO)
- Initial investment: $1.3 billion (beginning in fall 1988)
- Current market value: About $24.9 billion (end of 2024)
- Holding period: 36 years and counting
- Annual dividends: $776 million (2024)
Coca-Cola represents perhaps Buffett’s most famous long-term holding. Just three years after his initial purchase, the investment was worth $3.75 billion—more than the entire value of Berkshire Hathaway at the time of investment! Buffett recognized Coke’s extremely strong brand and its room to grow profitably for decades.
Bank of America (BAC)
- Initial investment: Approximately $15.2 billion (beginning in 2011)
- Current market value: Around $29.9 billion (end of 2024)
- Holding period: 14 years and counting
Berkshire’s Bank of America investment began unusually—through preferred stock and warrants in 2011, which were exercised in 2017. Buffett has occasionally added to this position over the years and has repeatedly praised Bank of America CEO Brian Moynihan. However, Berkshire sold about 15% of its stake in 2024.
Moody’s (MCO)
- Initial investment: $248 million (originated from a Dun & Bradstreet spinoff in 2000)
- Current market value: $11.7 billion (end of 2024)
- Holding period: 25 years and counting
Moody’s represents one of Buffett’s most profitable investments in percentage terms. The credit rating business has enormous pricing power and what Buffett once described as “almost infinite” returns on tangible assets.
The Power of Berkshire’s Long-Term Approach
What’s striking about Buffett’s investing approach is the patience and long-term thinking. Let’s look at Berkshire’s overall performance:
- Berkshire Hathaway has returned 19.9% annually through the end of 2024 during Buffett’s leadership (since 1965)
- This nearly doubles the annualized return of the S&P 500 over that same period
- A $1,000 investment in the S&P 500 would be worth about $390,540 today
- That same $1,000 invested in Berkshire would be worth approximately $55 million!
This extraordinary performance comes from Buffett’s willingness to hold investments for decades, allowing compounding to work its magic.
Beyond Stocks: Whole Company Acquisitions
It’s important to note that Buffett doesn’t just buy stocks—he buys entire companies too. Some of Berkshire’s most successful investments have been complete acquisitions:
See’s Candy
- Purchase price: $25 million (1972)
- Pre-tax earnings since purchase: “Well over” $2 billion (as of 2019)
See’s strong brand has allowed it to raise prices over time, helping limit the impact of inflation. This acquisition exemplifies Buffett’s preference for businesses with pricing power.
The Washington Post
- Initial investment: $11 million (1973)
- Peak value: Nearly $1.7 billion (end of 2004)
- Holding period: More than 40 years
The Washington Post was eventually sold to Amazon founder Jeff Bezos for $250 million in 2013, with remaining assets such as TV stations going to Graham Holdings. Berkshire exited this investment in 2014.
Buffett’s Current Top 5 Holdings
As of the most recent data (Q2 2025), here are Berkshire’s five largest stock positions:
| Company (Symbol) | Market Value of Investment | Percent Ownership |
|---|---|---|
| Apple (AAPL) | $63.7 billion | 1.9% |
| American Express (AXP) | $48.3 billion | 21.8% |
| Bank of America (BAC) | $30.2 billion | 8.2% |
| Coca-Cola (KO) | $27.5 billion | 9.3% |
| Chevron (CVX) | $19.2 billion | 6% |
What Makes These Companies Special?
Buffett’s top holdings share several important characteristics:
- Industry leadership: All are leaders or near-leaders in their respective fields
- Steady cash flow: They generate consistent, predictable cash flows
- Strong profitability: High margins and returns on capital
- Durable competitive advantages: What Buffett calls “moats” that protect their businesses
- Long-term sustainability: Businesses that can thrive for decades
Lessons for Individual Investors
So what can we learn from Buffett’s most successful investments?
- Patience pays off: Holding quality companies for decades allows compounding to work its magic
- Look for pricing power: Companies that can raise prices without losing customers tend to perform well over time
- Quality over price: Sometimes paying a fair price for an excellent business beats getting a bargain on a mediocre one
- Concentrated positions: Berkshire’s portfolio is highly concentrated, with 63% of its market value in just five stocks
- Admit mistakes: Even Buffett makes errors (like selling some Apple shares too early) and learns from them
Final Thoughts
While Apple has made Warren Buffett the most money in absolute dollar terms, his long-term holdings like American Express, Coca-Cola, and See’s Candy have been extraordinary investments over longer periods.
What’s truly remarkable about Buffett’s approach is its simplicity. He buys excellent businesses at reasonable prices and holds them for extremely long periods. There’s no fancy trading strategies, no market timing, just patient capital allocation focused on quality.
For us regular investors, perhaps the biggest lesson is that spectacular returns don’t require complicated strategies—just good businesses, fair prices, and lots of patience.
And hey, who would’ve thought that Buffett’s biggest winner would be a tech company? Sometimes, even the Oracle of Omaha surprises us!
What do you think about Buffett’s investments? Do you own any of the same companies in your portfolio? I’d love to hear your thoughts in the comments below!
Berkshire Hathaway investing approach
One thing that makes Berkshire Hathaway’s investment approach unique is that Buffett can purchase both stocks and entire companies. He has often written that he views the two purchases the same, no matter if he’s buying 5 percent of a company or the entire thing.
Some of Berkshire’s longest and most successful investments have been when they’ve purchased an entire company, such as when it acquired See’s Candy in 1972 for $25 million. Buffett told shareholders in 2019 that See’s had produced “well over” $2 billion in pre-tax earnings for Berkshire since its purchase. See’s strong brand has allowed it to raise prices over time, helping it to limit the impact of inflation.
Another long-time holding was an investment in The Washington Post, which Buffett bought in 1973 and held for more than 40 years. The newspaper was sold to Amazon founder Jeff Bezos for $250 million in 2013, with remaining assets such as TV stations going to Graham Holdings, which Berkshire exited in 2014. The investment was a profitable one for Berkshire, but would have been even greater if it had been sold earlier. At the end of 2004, Berkshire’s stake was worth nearly $1.7 billion, or about 154 times its cost of $11 million at the time.
In recent years, Buffett has trimmed some long-time investments, selling shares in Apple (APPL), Bank of America (BAC) and Chevron (CVX).
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Calendar Icon 15 Years of experience Brian Baker covered investing and retirement for Bankrate. He is a CFA Charterholder and previously worked in equity research at a buyside investment firm. Baker is passionate about helping people make sense of complicated financial topics so that they can better plan for their financial futures.
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Former Bankrate investing editor Johna Strickland has explained complicated topics to everyday people for more than 15 years. As an editor and journalist, she has touched on nearly every aspect of personal finance.
Bankrate is always editorially independent. While we adhere to strict , this post may contain references to products from our partners. Heres an explanation for . Our is to ensure everything we publish is objective, accurate and trustworthy. Bankrate logo
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our investing reporters and editors focus on the points consumers care about most — how to get started, the best brokers, types of investment accounts, how to choose investments and more — so you can feel confident when investing your money.
The investment information provided in this table is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives. Investing involves risk including the potential loss of principal. Bankrate logo
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo
How Warren Buffett Made His Fortune
FAQ
What is Warren Buffett’s most profitable company?
Berkshire Hathaway invested about $40 billion to build what would become the company’s largest holding. By the last quarter of 2023, that position had grown to more than a staggering $150 billion, making it the most profitable investment in Buffett’s storied career.
What if I invested $1000 in Coca-Cola 30 years ago?
An initial investment of $1,000 in Coca-Cola stock 30 years ago would be worth approximately $9,030 today, with about $4,270 from stock appreciation and $4,760 from reinvested dividends. While a good return, this is less than what a similar investment in the S&P 500 would have yielded, which would be around $20,000.
Who owns 88% of the stock market?
The distribution of equities across households, the top 10% of Americans own 88% of equities, 88% percent of the stock market. The next 40% owns 12%.
What is Warren Buffett’s favorite stock?
While Warren Buffett has not named a single “favorite” stock, Apple (AAPL) is his largest holding by position value, and Coca-Cola (KO) and American Express (AXP) are among his longest-held and most-loved “forever” stocks. Apple represents the largest investment in a single company he has ever made, while Coca-Cola and American Express are long-term core holdings that he expects to own indefinitely.