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There is nothing inherently wrong with having identical investments in different accounts, but, from a practical standpoint it is generally not the best process.
By the nature of 401k plans, you are generally limited in what you can use for investments and some of them are high cost or otherwise undesireable. So generally you would want to pick the best of the investments available in your 401k plan and then complete your overall portfolio in other accounts.
Some investments are more tax efficient than others. Therefore you would want to hold the more inefficient investments in tax advantaged accounts. This would include bonds and bond funds as well as REITs.
The most tax efficient investments should be in your taxable account. This would include most broadbased index or mutual funds, individual growth stocks, municipal bonds, etc.
Many of the rest of your investments fall somewhere in between the tax efficiency extremes and their location will depend somewhat on availability such as reaching maximums of contributions.
Currently most dividends and capital gains are taxed at a more favorable rates than ordinary income, interest, and non-qualified dividends. This makes them more attractive in taxable accounts, but, the tax rates may change in the future.

Bob
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