From The Motley Fool · Sean Williams · · 1m
Buffett's Bank of America Holding May Survive
Warren Buffett's core Bank of America position might not be cut by his successor Greg Abel.
In brief
Warren Buffett's core Bank of America position might not be cut by his successor Greg Abel. Greg Abel may keep Warren Buffett's Bank of America holding after selling 549 million shares. Originally reported by The Motley Fool.
Buffett Retires as CEO
Warren Buffett retired as Berkshire Hathaway CEO on Dec 31, 2024, handing over to Greg Abel.
Abel Sells 16 Stocks
Greg Abel sold 16 stocks in his first quarter, including Bank of America.
Buffett and Abel Sell Bofa Shares
Buffett and Abel sold over 549 million Bank of America shares since July 2024, 53% of their position.
Bofa Was at Risk
Bofa was at risk due to its interest sensitivity, book value discount, and Greg Abel's exclusion from long-term holdings.
Bofa's Book Value Rises
Bofa's book value per share rose as profitability improved, trading at a 30% premium to book value.
Fed Rate Hikes Benefit Bofa
Bofa's net interest income may benefit from expected Fed rate hikes as the most interest-sensitive bank.
At a glance
Greg Abel may keep Warren Buffett's Bank of America holding after selling 549 million shares.
