If you've ever wondered why 40,000 investors flock to Omaha, Nebraska, to hear Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) Chief Executive Officer Warren Buffett speak each year during his company's annual shareholder meeting, just take a closer look at his investment track record. Since taking the reins in the mid-1960s, Berkshire's Class A shares have delivered a jaw-dropping annualized return of 19.8% (as of Dec. 31), which is double the annualized total return, including dividends, of the benchmark S 500 (9.9%) over the same time.

In addition to running circles around the major stock indexes, Buffett is admired for his willingness to share his investment philosophy. The Oracle of Omaha typically seeks out brand-name businesses with long track records of success that have trusted management teams.

But a big reason Warren Buffett and his investment team have been so successful is their concentration of Berkshire Hathaway's nearly $350 billion portfolio.

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Source Fool.com