The longest-held equity position currently in Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) portfolio is Coca-Cola (NYSE: KO). It has a high payout ratio of 78%, which demonstrates both its tremendous cash reserves and commitment to shareholders, but it also leaves management with enough funds to run the business and innovate. Building the moat Buffett said many times over the years that the companies that perform the best when inflation is running hot are the ones that don't require high levels of capital investment.