3. Berkshire Focus Fund ( BFOCX), up 48% this year. This $28 million fund is a whirling dervish of trading, with a portfolio turnover of 833%. Manager Malcolm Fobes III, on board since the fund's inception in July 1, 1997, is certainly "focused," with 28 stocks and 73% of the fund invested in the top 10, but considers them long-term growth stocks. Fobes has wide latitude in his picks, as evidenced by the fund's second-largest allocation (8%), to restaurant chain Chipotle Mexican Grill ( CMG). That can be forgiven as it has a return of 167% this year. The rest of the top picks include all the usual suspects for a technology portfolio: Apple ( AAPL), which is driving fund returns at a 23% allocation; Salesforce.com ( CPR), 7% of the fund, and a 101% return; Chinese Internet search engine Baidu ( BIDU), 6%, and with a 163% return; and Netflix ( NFLX), 5% of the fund and carrying a 247% return. The fund's most profitable pick is Acme Packet ( APKT), with a 387% return this year. The fund was up 84% last year, after losing 57% of its value in 2008.