根据最新提交给SEC的一份新文件，伯克希尔哈撒韦于2024年9月20日、23日、24日连续三个交易日减持美国银行股票，合计2156.1万股，套现约8.63亿美元。美国银行是伯克希尔哈撒韦的第三大持仓。According to a recent new filing submitted to the SEC, Berkshire Hathaway reduced its holdings of Bank of America stocks on September 20, 23, and 24 2024 for three consecutive trading days, totaling 21.561 million shares and cashing out approximately $0.863 billion. After this sale, Berkshire Hathaway still holds 10.5% of the shares of this second-largest U.S. bank, getting closer to the 10% regulatory threshold.
Since mid-July, the "Stock God" Buffett has been actively selling stocks of the second largest bank in the USA, bank of america, seemingly on the verge of clearing his positions. In a series of sell-offs, Buffett has cashed out over $7.5 billion, making the cash reserves of Berkshire Hathaway under his leadership even stronger. $Bank of America (BAC.US)$ （Bank of America）
In the latest selling action, Buffett's Berkshire Hathaway further sold $0.863 billion worth of Bank of America shares, bringing the company's ownership stake close to the 10% regulatory threshold.
According to a new filing submitted to the SEC, Berkshire Hathaway reduced its holdings of Bank of America stocks on September 20, 23, and 24, 2024 for three consecutive trading days, totaling 21.561 million shares, with approximately $0.863 billion cashed out. Bank of America is Berkshire Hathaway's third-largest holding.
After this recent sale, Berkshire Hathaway still holds 10.5% of this second-largest U.S. bank, getting even closer to the 10% regulatory threshold. Once the shareholding drops below this threshold, Buffett will no longer need to disclose his trading activity within two working days. In fact, Buffett prefers to buy and sell stocks without rapid public disclosure.
The 94-year-old Buffett began reducing this massive investment in mid-July. Even after months of selling, based on Tuesday's closing price, Berkshire Hathaway's remaining stake in Bank of America is still valued at a high $32.1 billion, maintaining its position as the largest shareholder.
In 2011, Buffett established Berkshire's investment in Bank of America through a $5 billion deal involving preferred stock and warrants. Over the years, Buffett has been increasing his holding positions in Bank of America and praising the bank's leadership, but so far, he has not publicly explained his recent selling decision.
Some analysts believe that the reasons include the high valuation of Bank of America and the Federal Reserve's rate cut action after a four-and-a-half-year interval. It is understood that Bank of America is very sensitive to changes in interest rate cycles, even more sensitive than its peers in the banking industry.
In March 2022, when the Federal Reserve began its most aggressive rate hike cycle in 40 years, Bank of America made huge profits from it. The Fed's 50 basis points "aggressive magnitude" last week, as well as potential future rate cuts, mean that Bank of America's net interest income may be more severely impacted than its peers.
As for whether Buffett's consecutive selling spree really means he is going to clear out Bank of America, it is still unknown. However, based on his usual practice, when he starts selling a stock, he will eventually sell off all shares of that stock. Moreover, in recent years, Berkshire Hathaway has already cleared out stocks of multiple banks, including $U.S. Bancorp (USB.US)$and$Wells Fargo & Co (WFC.US)$N/A.$Bank of New York Mellon (BK.US)$.
Editor/rice