Warren Buffett's annual letters to Berkshire Hathaway (BRK.A) (BRK.B) shareholders have become legendary for their candid assessments of business performance and investment philosophy. In his 2020 letter, Buffett revealed that Berkshire Hathaway had returned an astounding 2,810,526% since he took control in 1965. The Oracle of Omaha attributed most of that value creation to four businesses he called “jewels.”
Five years later, Berkshire shares have returned another 115%, suggesting those crown jewels continue to generate exceptional returns. Among them, Apple (AAPL) stands out as both the largest holding and the most controversial recent position.
