Buffett Cuts Bank of America Stake to 10.5%

Warren Buffett's Berkshire Hathaway (NYSE:BRK-A) has further trimmed its stake in Bank of America Corp. (NYSE:BAC), selling $863 million worth of shares over three trading days. This move brings Berkshire’s ownership of the bank down to 10.5%, according to regulatory filings released Wednesday.

The sales come as W. Buffett moves closer to the 10% regulatory threshold, a level that requires timely disclosure of trades. Berkshire began selling parts of its substantial Bank of America holdings in mid-July. Despite the reduction, Berkshire remains the bank's largest shareholder, with its remaining shares valued at $32.1 billion, based on Tuesday’s closing price.

This isn't W. Buffett’s first round of BAC stock sales. Still, his trimmed position signals his confidence in the bank’s prospects remains solid, as the conglomerate holds on to a significant $32.1 billion stake. These moves reflect Berkshire’s efforts to manage regulatory obligations while maintaining a substantial presence in one of America’s largest financial institutions.