Berkshire has now lost about $5.4 billion worth of Bank of America stock in a series of sales since mid-July.
The conglomerate sold about 24.7 million shares of the lender between Aug. 23 and Aug. 27, according to a regulatory filing on Tuesday.
Buffett, one of the world’s most respected investors, began investing in Bank of America in 2011, when Berkshire bought $5 billion in preferred stock.
The 93-year-old’s investment comes at a time when some investors are worried about the bank’s capital needs.
The stock selloff marked a turnaround from last year, when Buffett praised Bank of America and its CEO, Brian Moynihan.
Even after the latest share sale, Berkshire is still the bank’s largest shareholder with 903.8 million shares, worth $35.85 billion based on Tuesday’s closing price.
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Government Kannagi Basil report in Bangalore; Editing by Krishna Chandra Eluri
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