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The City of London Investment Trust plc is a London-based, closed-ended investment company seeking long-term growth in income and capital, principally through investments in UK equities. Managed by Janus Henderson Investors, it holds a diversified portfolio focused on large UK companies across multiple sectors, with additional exposure to overseas equities. The trust pays dividends quarterly and has increased its annual dividend each year since 1966, supported by an income-focused investment approach and revenue reserves that can supplement distributions when portfolio income falls. Its origins date to 1860, when it was formed to acquire the Calverts brewing business; it registered as a limited company in 1891 and began operating under investment trust principles in 1932. Its UK-focused portfolio also provides international economic exposure through the overseas revenues of many of its investee companies.

Berkshire Hathaway is a holding company with a wide array of subsidiaries engaged in diverse activities. The firm's core business segment is insurance, run primarily through Geico, Berkshire Hathaway Reinsurance Group, and Berkshire Hathaway Primary Group. Berkshire has used the excess cash thrown off from its operations to acquire Burlington Northern Santa Fe (railroad), Berkshire Hathaway Energy (utilities and energy distributors), and the companies that make up its manufacturing, service, and retailing operations (which include Precision Castparts, Lubrizol, Clayton Homes, Marmon, and IMC/ISCAR). The conglomerate is unique in that it is run on a completely decentralized basis.