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