Warren Buffett, at 95, still manages Berkshire Hathaway’s trillion-dollar stock portfolio. He’s selling off shares, including 46.3 million last quarter, to buy U.S. Treasury bonds. Apple, once a major holding, is being trimmed due to high valuation and slow growth. Bank of America, another large position, is also being reduced for similar reasons.

Buffett’s move towards short-term Treasury bonds suggests a preference for risk-free returns over stocks. With over $300 billion in cash, he sees the 4% yield on Treasury bonds as a more attractive investment. Investing in ETFs for exposure to Treasury bonds can help diversify a portfolio amidst a bull market surge.

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Read more at Nasdaq: Billionaire Warren Buffett Just Sold More Than 46.3 Million Shares of 2 Favorite Stocks and Piled Into This Ultra-Safe Asset