BERKSHIRE ASSET MANAGEMENT LLC/PA

The firm demonstrated active management during the quarter, with 48 positions发生变化 (21 increased, 25 reduced, 2 new, 2 sold). Despite the activity, the portfolio remains anchored by large-cap positions, suggesting a strategy focused on stability and income generation rather than speculative growth.

2. Key Holdings

The portfolio exhibits a high concentration in its top ten positions, which account for approximately 70.7% of the total assets. The top three holdings alone comprise roughly 32.5% of the portfolio, indicating strong conviction in these specific names: