On September 24th local time, documents disclosed by the US Securities and Exchange Commission showed that Berkshire Hathaway, owned by Warren Buffett, sold approximately 21 million shares of Bank of America common stock between September 20th and 24th, with a cash flow of approximately $863 million.
Since July, Berkshire Hathaway has cumulatively reduced its holdings of approximately $8.952 billion in Bank of America stocks.
It is understood that Buffett's holdings in Bank of America originated from his investment in 2011. After multiple adjustments, Berkshire gradually became the largest shareholder of Bank of America.
It is worth mentioning that, without considering the impact of taxes, Buffett's total proceeds from selling Bank of America stocks since mid July this year, combined with the dividends he has received since 2011, have exceeded the $14.6 billion he spent on purchasing Bank of America stocks.
The $32 billion worth of stocks currently held by Berkshire Hathaway will become the company's net profit.