Warren Buffett Trims BofA Stake by $982M, Generating $5.4B Since July

👉 Key Highlights:

📍 Warren Buffett sells an additional $982 million of Bank of America shares.

📍 Berkshire Hathaway has reduced its BofA stake by nearly 13% since mid-July.

📍 Total proceeds from sales amount to $5.4 billion.

📍 BofA shares, up 31% this year, dropped 10% since Buffett's selling spree.

📍 Berkshire remains BofA's largest stockholder with 903.8 million shares worth $35.9 billion.

📍 Buffett has not disclosed reasons for the significant reduction in BofA holdings.

📍 Buffett’s sales mark a shift from his long-standing support of BofA CEO Brian Moynihan.

👉 Context/Background:

Warren Buffett's Berkshire Hathaway has significantly reduced its stake in Bank of America, the second-largest U.S. bank, with sales totaling $5.4 billion since July 2024. This move comes despite the stock's earlier gains this year, marking a notable shift in Buffett's investment strategy.

👉 Why This Matters:

📍 The sales may indicate a strategic reallocation within Berkshire's portfolio or a reassessment of BofA’s future performance.

📍 Investors may see this as a signal to re-evaluate their positions in Bank of America.