Sequoia Still Rock-Solid at Its Core
The fund is more diversified than in years past, but no less focused on quality and the long term.
Sequoia (SEQUX) has significantly diversified its portfolio over the past six years after David Poppe joined Bob Goldfarb as comanager in 2005. We've written about that before, but spreading the fund's branches hasn't weakened its trunk.
During that time, the number of stocks in the portfolio has nearly doubled to 34. In 2005, Berkshire Hathaway (BRK.A) and Progressive (PGR) absorbed about half the portfolio's equity assets. Today, Progressive is gone and Berkshire is down to about 10% of assets.
Kevin McDevitt does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.