PUZO MICHAEL J

Nine shares. That's the entire Berkshire Hathaway Class A position in Puzo Michael J's book — worth $6.46 million, 1.88% of the portfolio, and identical to last quarter's count down to the share. It's the smallest number in the filing, and it says something real about the strategy: this is a patient, buy-and-hold book that leaves its highest-conviction anchors alone even while it makes dozens of smaller moves elsewhere. Those smaller moves included a genuine 38.0% cut to UnitedHealth Group ($1.9 million real outflow, the largest real sale), a 285.1% increase in Broadcom (still a small $1.3 million position), and an RTX Corp CUSIP reissuance masking a real 8.5% share reduction — all inside a 379-position, $343.4 million book that fell 6.5% in AUM this quarter.