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buffett continues to cash out bank of america.

documents recently submitted to regulators by buffett's berkshire hathaway show that it continued to sell bank of america on august 23, 26 and 27.

since july 17, berkshire hathaway has reduced its stake in bank of america by nearly 13% through a series of selling transactions, with a total cash out amount of up to us$5.357 billion.

since the beginning of this year, buffett has significantly increased his investment portfolio. in the second quarter, he made a large adjustment to the companies in his investment portfolio, withdrew from the u.s. technology sector, and increased investment in energy, insurance and beauty. it is worth noting that buffett has sold stocks for seven consecutive quarters, and berkshire's cash reserves at the end of the second quarter continued to hit a new high.

buffett's continuous adjustment of the investment portfolio is gaining attention and recognition from the market. berkshire's stock price has risen for five consecutive days recently, with a year-to-date increase of more than 30%. on august 28, berkshire's market value exceeded $1 trillion for the first time, making it the seventh listed company in the u.s. with a total market value of more than $1 trillion.

buffett continues to reduce his holdings in bank of america

the u.s. stock market has rebounded recently, but buffett's determination to reduce his holdings in bank of america has not been shaken, and he continues to reduce his holdings in bank of america corporation.

the latest filings from the u.s. securities and exchange commission show that berkshire hathaway continued to sell bank of america on august 23, 26 and 27, selling 6.7543 million, 10.975 million and 6.9313 million shares of bank of america respectively. this is one of the documents berkshire hathaway has recently submitted to sell bank of america shares.

since july 17, berkshire hathaway has sold a total of 1.29 billion shares of bank of america, reducing its holdings by nearly 13%, with a total cash out amount of up to us$5.357 billion.

documents filed by berkshire hathaway on july 19 showed that the company sold a total of $1.476 billion worth of bank of america shares in three consecutive trading days between july 17 and july 19.

documents filed on july 24 showed that berkshire hathaway sold a total of $802 million of bank of america shares in three consecutive trading days between july 22 and july 24.

documents filed by berkshire hathaway show that it has continued to sell bank of america corp. shares since july 17, except for a brief pause in early august.

as of august 27, berkshire's holdings in bank of america were reduced to 922 million shares. based on the latest closing price of $39.67 per share, berkshire's holdings in bank of america are worth $35.854 billion. berkshire is still the largest shareholder of bank of america, with the latest shareholding ratio being 11.88%.

bank of america has long held the second place in berkshire hathaway's investment portfolio, second only to apple.

it is worth noting that after continuous reductions, bank of america's position in berkshire's investment portfolio may continue to decline. buffett began buying bank of america in 2011, and bank stocks were once an important position for buffett. in 2022, berkshire began to reduce its holdings of bank stocks, such as jpmorgan chase, goldman sachs, wells fargo and u.s. bancorp, but its favor for bank of america has continued to this day.

so far, buffett has not explained to the market the reasons and intentions for reducing his holdings in bank of america.

buffett increases his portfolio adjustment efforts

it is worth noting that since the beginning of this year, buffett has significantly increased his efforts to adjust his portfolio, made large-scale adjustments to the companies in his investment portfolio, withdrew from the u.s. technology sector, and increased investment in energy, insurance and beauty.

while buffett adjusted his u.s. stock portfolio, the overall size of his u.s. stock holdings shrank and the proportion of cash held increased again.as of june 30, 2024, berkshire's total u.s. stock holdings were $279.969 billion, down about $51.7 billion from $331.68 billion at the end of the first quarter, and it has been a net seller of stocks for seven consecutive quarters. berkshire's cash reserves continued to hit a new high in the second quarter, reaching $276.9 billion.

the holdings information at the end of the second quarter of this year showed that the top companies in berkshire's investment portfolio were apple, bank of america, american express, coca-cola, chevron, occidental petroleum, kraft heinz, moody's, chubb, and davita healthcare.

berkshire hathaway reduced its stake in apple to about 390 million shares in the second quarter, down 50.57% from 789 million shares in the first quarter. berkshire hathaway's fifth largest holding, chevron, was also reduced.

at the same time, berkshire also liquidated its holdings in cloud computing company snowflake and paramount universal pictures.

to the surprise of investors, berkshire hathaway built a position in ulta beauty, a us cosmetics retail giant, buying 690,000 shares. stimulated by the news, ulta beauty surged more than 11% the next day, but the company is still down 24.21% this year. in addition, berkshire hathaway also built a position in aerospace company heike aviation for the first time.

the first to receive the most increase in holdings was the sixth largest holding, occidental petroleum, with berkshire hathaway increasing its holdings by 7.2634 million shares in the second quarter. the second largest holding was chubb, which received an increase of more than 1.1 million shares in the second quarter. in the first quarter of this year, berkshire hathaway revealed for the first time its heavy investment in the insurance company, chubb, after keeping it secret for three consecutive quarters. as of the end of the second quarter, berkshire hathaway held 27 million shares of chubb, with a holding value of approximately us$6.9 billion, making chubb the ninth largest holding of berkshire hathaway.

there are many different opinions about the reasons why buffett made such a big adjustment in his portfolio. some analysts believe that valuation and taxation may be the reasons why buffett sold apple and bank of america.

data shows that bank of america's stock price has risen by 19.37% so far this year, exceeding the increase of the s&p 500 index during the same period. its current rolling p/e ratio is 13.5 times, while the average multiple in the past two years is 10 times, and its valuation is significantly higher than in recent years; apple's year-to-date increase is 18.89%, and its rolling p/e ratio is 34 times. in addition, in terms of taxation, it is not ruled out that it sells stocks such as bank of america to avoid facing higher tax bills if corporate tax rates rise in the future.

berkshire hathaway rises for 5 consecutive days

buffett's continuous adjustments to his investment portfolio are gaining attention and recognition from the market.

at the close of august 28, berkshire class a shares closed up 0.75% at $696,500, and berkshire class b shares closed up 0.86% at $464.59. berkshire has risen for five consecutive trading days, and its market value has exceeded the $1 trillion mark for the first time, becoming the first non-tech company in the united states to reach this milestone.

currently, companies with a market value of over one trillion us dollars in the us stock market include apple, nvidia, microsoft, google, amazon, and facebook.

u.s. stocks closed lower on wednesday, with signs of sector rotation re-emerging.

morgan stanley funds analyzed that the fed's expectations for rate cuts continued to swing back in the near term. as a medium- and long-term factor, the expectations for rate cuts have repeatedly swung back and forth in the short term, resulting in the short-term market reaction becoming increasingly blunt. however, in the medium term, the fed will eventually cut rates. at the jackson hole annual meeting, powell said that the time for policy adjustments has come, and the timing and pace of rate cuts will depend on data, prospects, and the balance of risks. after powell's speech, the us dollar index and us bond yields fell rapidly, us stocks rose, and the rmb exchange rate rose. in the short term, the swing back in the fed's expectations for rate cuts is expected to come to an end, which will undoubtedly support global stock markets.