(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. (BRK-B) sold an additional $863 million of Bank of America Corp. (BAC) stock, trimming the conglomerate’s stake closer to a 10% regulatory threshold.
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Berkshire now owns 10.5% of the second-largest US bank after the latest disposals on the three trading days through Tuesday, according to a regulatory filing. As long as it remains above the threshold, the company must disclose trades within a few days.
Buffett, 94, began trimming the massive investment in mid-July. Even after months of sales, Berkshire’s remaining stake in Bank of America is worth $32.1 billion, based on Tuesday’s closing price, preserving its perch as the largest shareholder.
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