Sequoia Fund (SEQUX)
This fund has a concentrated portfolio. Together, Warren Buffett's Berkshire Hathaway and Canadian company Valeant Pharmaceuticals International make up about 20 percent of the portfolio's total assets. Over the past 12 months, the fund's 25 percent return has beaten about 80 percent of its large-cap blend peers. Performance has been solid in both up and down markets: Over the past decade, the fund has experienced about 80 percent of the S&P 500's upside, but only 50 percent of its downside, according to Morningstar.