Skip to Content
Fund Spy

Sequoia Dials Down Its Concentration

This venerable fund has made some changes to its portfolio, but it's still fabulous.

Mentioned: , , , , , , , , ,

 Sequoia (SEQUX) is selling  Berkshire Hathaway (BRK.A), but that's not the only news here.

The fund's most recent semiannual report shows that, as of June 30, 2010, Berkshire Hathaway accounts for 12.4% of assets. That still makes it the concentrated fund's top holding by more than 5 percentage points, but it's a far cry from the 35% position it once held.

The reduction has been gradual, taking place over the course of roughly the past five years. Sequoia is among the most deliberate and methodical funds out there when it makes changes to its portfolio. It's never in a hurry, as attested by its consistently low turnover, which is regularly below 15% a year.

Bridget B. Hughes has a position in the following securities mentioned above: JNJ. Find out about Morningstar’s editorial policies.