Berkshire Hathaway's Stake in Bank of America Falls Below 10% After Latest Round of Disposals-February 2024-www.financetom.com

Berkshire Hathaway's Stake in Bank of America Falls Below 10% After Latest Round of Disposals

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Berkshire Hathaway's Stake in Bank of America Falls Below 10% After Latest Round of Disposals

Oct 11, 2024 3:54 AM

06:43 AM EDT, 10/11/2024 (MT Newswires) -- Berkshire Hathaway (BRK.A) unloaded a further $382.4 million of shares in Bank of America ( BAC ) over three days, a regulatory filing on Thursday showed.

Reuters reported that this latest round of disposals has trimmed the conglomerate's stake in the bank to below a 10% regulatory threshold requiring rapid disclosure.

According to the report, Warren Buffet's 9.99% holding is now small enough for him to provide updates quarterly instead of within a few days. Berkshire remains the bank's biggest stockholder.

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