Warren Buffett Continues Trimming Bank Of America Position, No Longer Needs To Report Sales

Warren Buffett has continued his streak of selling off portions of Berkshire Hathaway‘s BRK BRK largest positions; the latest victim is Bank of America Corp BAC.

What Happened: Bank of America is Berkshire Hathaway’s third-largest holding.

According to a Thursday SEC filing, Buffett shaved off a small portion of Berkshire’s Bank of America holding this week.

Buffett sold 9,549,933 shares of Bank of America for $382,403,036. He previously sold shares in late September and again in early October.

Berkshire now owns 775,000,000 shares of the Charlotte, North Carolina-based financial giant; it owned 1,032,852,006 shares one year ago. Thus, Buffett has shed nearly 25% of his position.

Bank of America CEO Brian Moynihan reportedly reacted to Buffett’s sale on Thursday, saying “we can’t ask, we wouldn’t ask” about Berkshire’s rationale.

Why it Matters: The latest sale represented 1.2% of Berkshire’s position in Bank of America. However, the sale is significant as it breaches a key regulatory threshold. Since Bank of America now comprises less than 10% of Berkshire’s holdings, the Omaha-based holding company no longer needs to report individual sales.

Investors will have to wait until Berkshire’s 13F filings each quarter to see if Buffett sold more shares of Bank of America.

Bank of America will report its third-quarter earnings on Oct.15.

Berkshire’s largest position is Apple Inc.; Buffett has sold over half of its stake in the Cupertino-based company since the first quarter of 2024.

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Image created using artificial intelligence via Midjourney.