Buffett sold more BofA stock while keeping Apple stake intact.

Warren Buffett’s Berkshire Hathaway Inc. continued whittling a longtime bet on Bank of America Corp. in last year’s final months, while keeping a stake in Apple Inc. intact following an earlier reduction.

The Omaha, Nebraska-based conglomerate cut its stake in the bank to 8.9% in the fourth quarter after selling 117.5 million shares, a regulatory filing on Friday shows. Bank of America executives and shareholders have waited months for the update after Berkshire’s prior sales left it with less than 10% and freed it from a requirement to quickly disclose transactions.

The remaining holding was worth $31.9 billion as of Friday’s close in trading. Buffett, 94, started whittling the investment in mid-July, without providing any explanation.

After slashing a holding in Apple earlier in 2024, Berkshire left the stake untouched in the year’s final months. The iPhone maker remains Berkshire’s largest stock holding, representing 28% of the conglomerate’s portfolio. The stake’s value rose by more than $5 billion in the quarter.

The firm also bought shares in SiriusXM and Occidental Petroleum during the quarter, while slashing a stake in Citigroup Inc. 73%, selling 40.6 million shares. And Buffett exited Ulta Beauty, a stock it started acquiring in the second quarter before paring back the position in the following period.

Source: FORTUNE

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Stella

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