Berkshire Hathaway, led by Warren Buffett, sells Bank of America for a ninth consecutive day.

Warren Buffett is not just trimming his longtime holding as Berkshire Hathaway's selling streak in its big stake has extended to nine straight days.

Berkshire Hathaway, an Omaha-based conglomerate, sold 18.4 million shares of the bank from Thursday to Monday for $767 million at an average price of $41.65, according to a new regulatory filing late Monday. Over the past nine trading sessions, Berkshire has cut its stake by 71.2 million shares with just over $3 billion of sales.

Berkshire still owns 961.6 million shares of BofA with a market value of $39.5 billion after the selling spree. If Berkshire continues to offload those shares, BofA could fall below third place, currently valued at $37.6 billion.

Berkshire remains BofA's largest shareholder with a 12.3% stake. As a shareholder with more than 10%, Berkshire has two business days to report any transactions, so we won't know until Thursday if the selling streak continues Tuesday.

In 2011, Buffett bought $5 billion worth of BofA's preferred stock and warrants, boosting confidence in the struggling lender that had losses linked to subprime mortgages. He converted those warrants in 2017, making Berkshire the largest shareholder in BofA, and vowed that it would be a "long, long time" before he would sell.

At the end of March, Berkshire's cost basis on the BofA position was about $14.15 per share or $14.6 billion, while the holding was worth $39.2 billion. BofA closed Monday at $41.09.

After BofA's impressive performance, the conglomerate may be considering taking some profits. In 2024, the bank's stock increased by 22%, surpassing the S&P 500's 14.5% return.

Berkshire will reveal its second-quarter earnings and more information about its largest holdings on Saturday morning.