Warren Buffett’s Firm Divests $1 Billion in Bank of America Shares, Retains Nearly 12% Stake

Warren Buffett’s Berkshire Hathaway has recently sold nearly 25 million shares of Bank of America, valued at around $1 billion, bringing its total sales since July to 116 million shares. Despite this, Berkshire still maintains a significant 12% ownership of Bank of America. These divestments have bolstered Berkshire’s cash reserves to $277 billion as of June 30 and increased its market valuation to over $1 trillion, placing it among elite companies but still behind Nvidia and Microsoft. Analysts speculate Buffett may be preparing for a market correction, although Bank of America remains one of Berkshire’s key investments.

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