Every May, tens of thousands of investors descend upon Omaha, Nebraska, for the annual meeting of Warren Buffett's company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). Clearly, lots of people are very interested not only in the impressive company, but also in its chairman.
Buffett has earned that respect by outperforming almost every other investor. Since taking over the reins of Berkshire in 1965, he has built it into a massive conglomerate recently worth $1 trillion and has increased its value at an average annual rate of 19.8% -- versus 10.2% for the S&P 500 over the same period of nearly 60 years.
Berkshire Hathaway encompasses dozens of companies owned outright (such as GEICO, Benjamin Moore, and the entire BNSF railroad) as well as shares of stock in dozens of other companies.
Many people want to invest like Buffett and to share in his great results. There are several ways to do so. For one thing, you might follow the holdings of Berkshire Hathaway -- which are reported at least quarterly -- and buy, sell, or own whatever Berkshire does.
Note, though, that Buffett has two lieutenants, Ted Weschler and Todd Combs, who also make many investment decisions. So any given purchase or sale may have been directed by any of the three. In its last reported quarter, which ended on Sept. 30, here were Berkshire's top holdings:
Should you run out and snap up shares of these companies? Not necessarily. Berkshire has actually been shedding shares of Bank of America this year and sold 100 million shares of Apple in the last quarter. Each may still perform well, though, and Berkshire may be selling shares for reasons that don't apply to you.
Arguably, though, the best way to own all that Berkshire Hathaway owns is simply to buy shares of the company itself. That way you'll earn the same return each year and will profit from the investment decisions of Buffett, Weschler, and Combs.
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Bank of America is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. Selena Maranjian has positions in American Express, Apple, and Berkshire Hathaway. The Motley Fool has positions in and recommends Apple, Bank of America, Berkshire Hathaway, and Chevron. The Motley Fool has a disclosure policy.