Buffett Sheds More BofA Shares After Buybacks Push Stake Above 10%

94-year-old Warren Buffett’s Berkshire Hathaway offloaded even more Bank of America shares this week to sustain <10% regulatory threshold, a move triggered by the bank’s own share buybacks, which pushed Berkshire’s stake back above the 10% mark. Buffett’s strategy is clear: keep the stake below this threshold to avoid constant SEC reporting that results with every sale.

Bloomberg data shows Berkshire’s total proceeds from selling BofA shares topped $370 million this week. The selling abruptly began in mid-July.

Berkshire’s stake is now under 10%, currently at 9.88%, which means that instead of disclosing trades every few days, this can now be done quarterly. The valuation of the position stands at around $32.64 billion (as of Thursday’s close).