Berkshire Hathaway’s Warren Buffett says that 75% of his equity portfolio is concentrated in just five names. Here is a look at this massive bet from a legendary investor. The “Oracle of Omaha” kept its top five holdings unchanged last quarter as the stock market experienced rising volatility amid rising rates and fears of a recession. Berkshire posted a $53.6 billion loss from investments and derivatives during the market turmoil. Buffett urges investors not to focus on monthly fluctuations in equity investments. At the end of 2022, Apple remains Berkshire’s largest shareholder, worth $119 billion. Buffett called Apple his second most important business after insurance group Berkshire and said he was a fan of CEO Tim Cook’s share buyback strategy. Apple shares fell about 27% last year, underperforming the S&P 500, which fell nearly 20% for its worst year since 2008. Chevron is the conglomerate’s third-largest shareholder worth $30 billion. Berkshire significantly increased its energy bets last year. The stock beat the market in 2022 with a 53% rally. Other big bets include Coca-Cola, American Express and Bank of America, which have been Buffett’s longtime holdings. Buffett also said that Berkshire is the largest owner of 8 large companies: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global. The 92-year-old investor increased his position in Occidental to more than 21% last year. In August, Berkshire received regulatory approval to buy up to 50%, spurring speculation that it could eventually buy all of Houston-based Occidental.