It's been a challenging year for investors, but as we prepare to turn the calendar to 2023, this would be a good time to pause and reflect on what investments might work next year. And there are few better places to look for inspiration than in the portfolio of Warren Buffett's Berkshire Hathaway (NYSE: BRK.B) (NYSE: BRK.A). The legendary investor's portfolio is as concentrated as ever, and unlike many professional money managers, he's not weighting it in line with the S&P 500's sector weights. Here are three conclusions for investors drawn from looking at the contrasts between Berkshire Hathaway's portfolio and the S&P 500.

Let's start by looking at Berkshire Hathaway's holdings by sector compared to the S&P 500 by sector weighting. The conglomerate's portfolio is overweight in information technology, finance, energy, and consumer staples. It's significantly underweight in consumer discretionary, healthcare, industrials, telecommunications, utilities, materials, and real estate. 

Data sources: Berkshire Hathaway SEC filings, S&P Global. Chart by authot

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Source Fool.com