BOABTC
BOSAGORA / Bitcoin
crypto

I didn't read it as a direct equity swap. He also added other positions in Lamar, DH Horton and Lennar and others. Yes it said he was trimming AAPL and BOA but I don't see anything that specifies the amounts of those sales.

The difference with BRK is they have permission to hold equities instead of cash/equivalents. This has allowed them to invest the insurance capital reserves in things like KO, BOA etc where the can get the capital appreciation and dividends instead of just short term rates against cash.
This is one of the biggest part of BRK outperforming the market over decades. They run Insurance Businesses and make returns above their peers.

In 2008 I turned $10k into $40k I was holding BOA at $2, ford at $1, AIG at $0.40 etc. I KNEW At that moment if I left that $40k in value stocks I’d have $1M by 2020. But I didn’t want $1M in 12 years, I wanted $1M at 25. I bought the worst pumps and dumps and it dwindled. Then I had some personal issues. Pulled $15k or so out of stocks and stopped paying trading. Silly.

I did the math between BOA/Merrill and Fidelity.
It’s all better with Checking /CC with BOA and everything else at Fidelity.