Berkshire Hathaway Inc (BRK.B)

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You're making the common mistake of thinking BRK is purely an investment fund.

At its core BRK is a fabulous multipronged insurance operation. Also about 1/3 of BRK's money is in private investments. BRK is a very active investor. In the toughest of times BRK has all sorts of options not available to a passive investor such as trimming costs and selling and merging assets. SSO can't do that. In tough times SSO would have to sell assets. No so for BRK. Heck, Buffett could even pay a dividend if he (of his successor) wanted to.

BRK is much more efficient than SSO. There's more to making money than leverage.