Warren Buffett famously told Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) shareholders that “when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.” That said, he rarely finds a business so outstanding that he ends up never selling.

He clarified his position in his 2016 letter to shareholders: “It is true that we own some stocks that I have no intention of selling for as far as the eye can see (and we’re talking 20/20 vision). But we have made no commitment that Berkshire will hold any of its marketable securities forever.”

But Buffett came close to making that commitment to shareholders in his most recent letter for a handful of companies he finds unparalleled in their industries. He plans to maintain Berkshire’s investments in these businesses “indefinitely,” he says.

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Source Fool.com