.Warren Buffett speaks in the course of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. u00c2 CNBCWarren Buffett's Berkshire Hathaway offloaded an additional piece of Bank of United States portions, bringing its own total sales to more than $7 billion considering that mid-July and minimizing its stake to 11%. The Omaha-based conglomerate shed an overall of 5.8 million BofA shares in separate sales on Friday, Monday and also Tuesday for virtually $228.7 million at an average selling price of $39.45 per reveal, corresponding to a newu00c2 regulative filing.The most up-to-date action extended Berkshire's selling streak to 12 consecutive sessions, matching the 12 consecutive sessions from July 17 to Aug. 1. Berkshire has actually offered more than 174.7 million shares of the Charlotte-based banking company for $7.2 billion, along with 858.2 thousand shares remaining, or even 11.1% of portions impressive. BofA has fallen to the No. 3 spot on Berkshire's list of top holdings, tracking behindu00c2 Appleu00c2 andu00c2 American Express. Prior to the marketing spree, BofA had actually long been Berkshire's second greatest holding.Moynihan on BuffettBuffett famously acquired $5 billion well worth of BofA's participating preferred stock and warrants in 2011 in the results of the monetary problems. He turned those warrants in 2017, creating Berkshire the biggest investor in BofA. The " of Omaha" then included 300 million more shares to his wager around 2018 and also 2019. BofA chief executive officer Brian Moynihan produced an uncommon review concerning Berkshire's sales Tuesday, stating he has no knowledge of Buffett's inspiration for selling." I don't recognize exactly what he's performing, because frankly, our experts can not ask him. Our team definitely would not inquire," he stated during the course of Barclays Global Financial Services Conference, depending on to a transcript on FactSet. "Yet however, the marketplace's taking in the inventory ... we are actually purchasing a part of the stock, and so lifestyle will definitely go on." Equity Graph IconStock graph iconBank of AmericaShares of BofA have soaked nearly 1% due to the fact that the beginning of July, and the equity is up 16.7% this year, a little outmatching the S&P 500. Moynihan, who has been actually leading the banking company since 2010, applauded the 94-year-old's intelligent expenditure in his banking company in 2011, which helped support assurance in the embattled creditor battling with losses connected to subprime mortgages." He is actually been a terrific investor for our provider, as well as supported our company when we required at that time," he said.To show just how financially rewarding Buffett's investment has been actually, Moynihan pointed out if investors were actually to purchase his banking company equity the exact same time Buffett performed, they would certainly possess been able to capture the affordable price of $5.50 every share. The assets last traded only under $40 apiece." He simply had the digestive tracts to carry out it in a huge technique. And also he performed it. As well as it's been actually a wonderful gain for him. Our experts more than happy that he gets it," Moynihan said.u00e2 $" CNBC's Alex Crippen contributed reporting.