Warren Buffett has made fortunes for early investors in Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) who held on to the stock for the long term. The stock returned 3,787,464% from 1965 through 2022. That's more than 150 times the 24,708% return from the S 500 index over the same period.

Contributing to those returns was the growing value of Berkshire's stock holdings -- a portfolio worth $318 billion at the end of 2023's third quarter. One common theme among its largest stock holdings is that those stocks own strong brands and pay regular dividends.

Buffett acknowledged in last year's shareholder letter that stakes in Coca-Cola (NYSE: KO) and American Express (NYSE: AXP), which Berkshire Hathaway has held for decades, have provided it with billions of dollars in unrealized gains from share price appreciation that was partially powered by their growing dividends.

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Source Fool.com