Warren Buffett’s BofA Selling Spree Edges Toward Key Milestone
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A dozen rounds of selling have trimmed Warren Buffett’s stake in Bank of America Corp. to the cusp of a key regulatory threshold, in which he will no longer need to quickly notify the public of his trading.
His Berkshire Hathaway Inc. now owns about 10.3% of the bank after the latest round of his 10-week selling spree, a regulatory filing shows. If he maintains course, his stake would drop below 10% within a week or so, freeing him from the duty to swiftly disclose trades. Once Berskshire holds less than that, it can provide quarterly updates instead.