After the bank’s impressive 2024 run, Berkshire Hathaway reduced its massive investment in Bank of America for the first time in 4½ years.
On Wednesday, Thursday, and Friday, 33.9 million shares of Bank of America were sold for about $1.5 billion by Warren Buffett’s conglomerate, with an average selling price of $43.56.
The Omaha-based company had not decreased its shareholding since the fourth quarter of 2019. Even still, with 999 million shares valued at about $43 billion, Bank of America is still Berkshire’s second-largest equity investment after Apple.
With a 10.8% holding, Berkshire remains Bank of America’s largest shareholder in the interim. Given that Bank of America has rebounded, Berkshire may be taking a profit.
Source (CNBC)
