Who Owns Coca-Cola

Berkshire Hathaway, managed by Warren Buffett, stands as the primary owner among individual stakeholders, controlling approximately 9.3% of Coca-Cola equity. The company operates under a predominantly institutional ownership model, with major asset managers and investment firms holding substantial positions alongside retail investors and company executives.

The Coca-Cola Company maintains operations across every continent, distributing products ranging from traditional carbonated beverages to waters, teas, coffees, and plant-based drinks. Trading on the New York Stock Exchange under ticker symbol KO, the corporation recently reported market valuation exceeding $306 billion, cementing its position among global beverage industry leaders.

Recent quarterly dividends reflect consistent shareholder returns, with the board approving a 5.2% increase to 51 cents per share during 2025. This marks the 63rd consecutive year of dividend growth, demonstrating financial stability across changing market conditions.

Who Owns Coca-Cola?

The ownership structure reflects a publicly traded corporation model with no single controlling entity. Institutional investors command 71.52% of shares, while company insiders hold 6.31% and retail investors own 22.17% of outstanding equity¹.

Large investment firms acquire shares primarily through index funds tracking major market benchmarks. These passive strategies ensure continuous ownership regardless of short-term price fluctuations. The concentration among top holders provides stability while limiting individual shareholder influence over governance decisions.

Company executives and directors maintain modest equity positions through compensation packages and stock purchase programs. Retail investors access shares through brokerage accounts, retirement funds, and employee stock plans.

This distributed ownership structure prevents any single party from exerting unilateral control, similar to other major beverage corporations operating globally. The model balances institutional stability with management accountability and retail participation.

Largest Shareholders of Coca-Cola

Understanding the shareholder composition reveals how concentrated ownership influences corporate governance and strategic direction within this beverage empire.

Berkshire Hathaway Investment Holdings

Warren Buffett’s conglomerate maintains the largest individual position, owning 400 million shares valued at approximately $28.3 billion. This stake represents roughly 9.3% of total equity, with Berkshire showing no recent changes to its position.

The investment dates back decades, reflecting Buffett’s long-term confidence in the brand’s competitive advantages and cash generation capabilities. This represents one of Berkshire’s most enduring equity positions across its diverse portfolio.

Passive Asset Management Giants

Vanguard Group holds 365.6 million shares, representing 8.5% ownership worth approximately $25.8 billion. The firm increased its stake by 6.2 million shares during recent quarters, demonstrating continued accumulation through its index fund operations.

BlackRock follows with 210.4 million shares at 4.9% ownership, valued near $14.9 billion, adding 1.8 million shares to its portfolio. State Street maintains 164.9 million shares, accounting for 3.8% of outstanding equity valued at $11.7 billion.

These firms primarily hold shares through passive index funds tracking the S&P 500 and other major benchmarks. Their ownership remains relatively stable, providing a consistent shareholder base that rarely sells positions regardless of market conditions.

Shareholder	Shares (millions)	Percentage	Value
Berkshire Hathaway	400.0	9.3%	$28.3B
Vanguard Group	365.6	8.5%	$25.8B
BlackRock	210.4	4.9%	$14.9B
State Street	164.9	3.8%	$11.7B

Active Fund Managers and Hedge Funds

Fidelity controls 90.8 million shares worth $6.4 billion, having added 12.9 million shares recently. This 16.6% position increase signals confidence in future performance among actively managed portfolios.

Geode Capital reduced holdings by 7.3%, now owning 88.9 million shares. JPMorgan Asset Management cut its stake by 12.9%, maintaining 57 million shares valued at $4 billion. These adjustments reflect active portfolio rebalancing strategies rather than fundamental concerns.

Notable aggressive accumulation occurred among hedge funds. Citadel Advisors expanded positions by nearly 2,000%, accumulating 9.65 million shares valued at $683 million². Balyasny Asset Management increased holdings by 767%, now controlling 642,000 shares worth $45 million.

History of Coca-Cola Co-founders

The beverage’s origins trace to Atlanta pharmacist John Pemberton, who formulated the original syrup in May 1886. Working from his pharmacy, Pemberton created a tonic containing coca leaf extract and kola nut caffeine, initially marketed as a medicinal remedy for various ailments.

John Pemberton’s Creation

Operating during post-Civil War America, Pemberton developed the formula while seeking alternatives to morphine dependency following battlefield injuries. His pharmacy partner Frank Robinson suggested the distinctive name and created the iconic script logo still recognized worldwide.

Sales began at Atlanta soda fountains, mixing the syrup with carbonated water. Financial pressures and declining health forced Pemberton to sell portions of his business to various partners. Before his death in August 1888, he transferred remaining interests to businessman Asa Candler for approximately $2,300.

Pemberton never realized the enormous commercial potential his creation would achieve, passing away less than three years after introducing the beverage formula that would become globally recognized.

Asa Candler’s Transformation

Candler recognized opportunities beyond medicinal sales, repositioning the product as a refreshing beverage. He formally incorporated The Coca-Cola Company in 1892 with initial capitalization of $100,000, establishing the foundation for modern operations.

Through aggressive marketing featuring coupons, billboards, and promotional items, Candler expanded distribution throughout every American state by 1895. The businessman removed cocaine components from the formula in 1903, responding to growing concerns about the substance.

Large-scale bottling commenced in 1899 when Benjamin Thomas and Joseph Whitehead secured exclusive bottling rights, establishing distribution networks that evolved into the global system operating across beverage markets today. Candler eventually sold the enterprise in 1919 for $25 million, marking the transition toward modern corporate ownership.

Who Is on the Board of Directors for Coca-Cola?

Fourteen members comprise the current board, providing governance oversight and strategic direction. The composition reflects diverse expertise across finance, technology, operations, and international business sectors.

Executive Leadership

James Quincey serves simultaneously as Chairman and Chief Executive Officer, leading operational strategy since 2017. His career with the organization spans nearly three decades, beginning in Latin America divisions before ascending through regional president roles.

Quincey guides transformation initiatives emphasizing portfolio diversification and digital innovation. His leadership focuses on adapting the product portfolio to evolving consumer preferences toward healthier beverage options and sustainable packaging solutions.

Financial and Investment Expertise

Herbert Allen represents Allen & Company LLC, bringing investment banking perspective focused on media and technology sectors. His decades of experience advising major corporations provides valuable insight into strategic transactions and capital allocation decisions.

Christopher Davis chairs Davis Selected Advisers, contributing asset management insights from decades managing value-oriented portfolios. His expertise in long-term equity investing aligns with shareholder interests focused on sustainable value creation.

Maria Elena Lagomasino, CEO of WE Family Offices, previously led GenSpring Family Offices and brings wealth management expertise. Her background in serving high-net-worth clients provides perspective on investor expectations and fiduciary responsibilities.

Technology and Innovation Directors

Max Levchin, founder and CEO of Affirm Holdings, joined the board in October 2025. His background includes co-founding PayPal and developing early electronic payment systems, bringing relevant expertise in financial technology and digital commerce platforms.

Bela Bajaria, Chief Content Officer at Netflix, provides entertainment industry perspective and consumer engagement strategies developed through streaming platform management. Her experience understanding audience preferences translates to beverage marketing and brand positioning strategies.

Corporate Governance and International Finance

Ana Botin serves as Executive Chair of Banco Santander, offering international banking knowledge and European market insights. Her leadership of one of Europe’s largest financial institutions provides critical perspective on global economic trends and regulatory environments.

Thomas Gayner, CEO of Markel Group, brings insurance and investment experience from managing a diversified financial services firm. His approach to long-term capital allocation and risk management aligns with shareholder interests in stable returns.

Amity Millhiser contributed consulting expertise from her PricewaterhouseCoopers partnership before joining the board. Her background in auditing and advisory services ensures robust financial oversight and compliance with regulatory requirements.

The board structure ensures balanced representation across critical competencies required to navigate global markets, regulatory environments, and evolving consumer preferences. This governance model mirrors approaches used by other multinational corporations managing diverse portfolios across entertainment and consumer sectors.

FAQ

Does Warren Buffett own Coca-Cola stock?

Berkshire Hathaway, controlled by Warren Buffett, owns approximately 400 million shares representing 9.3% of the company. This position remains unchanged and constitutes one of Berkshire’s longest-held investments.

Is Coca-Cola a publicly traded company?

Yes, the company trades publicly on the New York Stock Exchange under ticker symbol KO. Shares are available for purchase through standard brokerage accounts and retirement investment platforms.

Who founded Coca-Cola originally?

Pharmacist John Pemberton created the original formula in Atlanta during 1886. Asa Candler subsequently acquired the business and established the modern corporation in 1892 before expanding distribution nationwide.

What percentage do institutional investors own in Coca-Cola?

Institutional investors control approximately 71.52% of outstanding shares. Major holders include Vanguard, BlackRock, State Street, and Fidelity, primarily through index funds tracking market benchmarks.

How much is Coca-Cola worth today?

The market capitalization stands at approximately $306 billion as of November 2025. The stock trades near $71 per share, with valuations influenced by earnings performance and beverage market conditions.