Diversification

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When researching retirement investing, it does not take long before one encounters the term of Diversification.  Diversification is imperative.  The aphorism "don't put all of your eggs in one basket" applies directly.  

What is Diversification?  Theoretically, diversification occurs when a portfolio contains a menagerie of positions across many asset classes.  A traditionally diversified portfolio will often contain fixed income assets, equities, bonds, and even hard assets.  Ideally, when one of the asset classes experiences a downturn, other classes will experience an increase.  In short,  Diversification works because the asset classes generally react differently to the same economic trend or event. 

Diversification in practice:  
I am not your financial advisor.  I am not your fiduciary.  I am just some guy typing words on the internet.  Please do your own research.  
In the bridge accounts to which we reference, we have 100% exposure to equities.  More than 70% of the capital is invested in indexed funds.   The rest we have allocated to individual stocks.  The diversification of our portfolio comes in the sectors and industries in which our individual corporations operate.  A quick run down of the individual companies in which we invest:

Apple - AAPL - 2.5% of our total portfolio.  "own it, don't trade it" says Jim Cramer.  We are waiting for a pull back where we will add to this holding.  

Berkshire Hathaway (B) - BRK.B - 4.8% of our total portfolio.  This is a long term value play.  We continue to add to this holding with a Dollar Cost Averaging Strategy.  

Citibank - C - 5.4% of our total portfolio.  We are about to liquidate this holding.  

Astro Zeneca - AZN - 4.4% of our total portfolio.  This was a COVID play.  We keep a close eye on this stock.  Analysts are confident in the up-side potential.  I am concerned with the recent news of concerns regarding vaccine trial data.

Johnson & Johnson - JNJ - 4.2% of our total portfolio.  This is a dividend stock we have held for quite a while.  We have been happy with the steady growth and dividend reinvestments.  Recently, there has been a very positive upside with the growth of the single dose COVID-19 Vaccine.  

WalMart - WMT - 3.6% of our total portfolio.  In an effort to remain diversified we researched WalMart vs. Costco.  We chose Walmart as a long term holding.  

Any recommendations on how we can reallocate or maintain diversity would be greatly appreciated.