Warren Buffett's Berkshire Hathaway just revealed that about 70% of its equity portfolio was concentrated up in just five names. Here's a look at these high-conviction bets from the legendary investor. While the conglomerate enjoyed a big rebound in operating earnings, it did post a $53 billion loss on its investments during the second quarter amid the overall market turmoil. The legendary investor again asked investors to not focus on the quarterly fluctuations in its equity investments. "The amount of investment gains/losses in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules," Berkshire said in a statement. Apple was still Berkshire's largest common stock investment as of the end of the second quarter, with a market value of $125.1 billion. The tech giant has lost about 7% this year as rising rates prompted investors to flee growth-oriented stocks. Still, Apple is beating the S & P 500 year to date as the benchmark suffered a 13% loss. Apple reported on July 28 fiscal third-quarter results that beat Wall Street expectations for sales and profit but showed slowing growth for the iPhone maker. Chevron made it to Berkshire's top five holdings, worth $23.7 billion at the end of June, after the conglomerate significantly ramped up the bet in the first quarter. Shares of Chevron have rallied 30% this year on the back of surging oil prices. The energy name also pays a 3.7% dividend. Longtime holdings Coca-Cola, American Express and Bank of America were also among Berkshire's biggest bets at the end of June.