Warren Buffett’s Berkshire trims Bank of America stake for the first time since 2019 after strong rally [Video]

Berkshire Hathaway trimmed its gigantic Bank of America holding for the first time in 4½ years following the bank’s strong 2024 run.

Warren Buffett‘s conglomerate sold 33.9 million shares of Bank of America for almost $1.5 billion in separate sales on Wednesday, Thursday and Friday at an average selling price of $43.56, a regulatory filing showed.

It marked the first time since the fourth quarter of 2019 that the Omaha, Nebraska-based conglomerate has reduced the stake. Still, Bank of America remains Berkshire’s second-largest equity position after Apple, holding 999 million shares with a market value of almost $43 billion. Meanwhile, Berkshire is still Bank of America’s largest shareholder with a 10.8% stake.

Berkshire could be taking some profits as Bank of America has rallied 27.4% so far this year to its highest levels since March 2022. In the first quarter, Buffett trimmed Berkshire’s Apple holding by 13% for tax reasons following sizable gains.

Shares of Bank …