### Warren Buffett Reduces Stake in Bank of America

Warren Buffett's Berkshire Hathaway has trimmed its stake in Bank of America by selling an additional $863 million worth of shares, nearing a crucial 10% regulatory threshold. This action, revealed in a recent regulatory filing with the U.S. Securities and Exchange Commission, is part of Buffett's ongoing reduction of his investment in the second-largest U.S. bank.

Despite the consistent sell-off that began in mid-July, Berkshire Hathaway remains the largest shareholder of Bank of America, with its remaining stake valued at $32.1 billion as of Tuesday's closing price. Buffett, now 94, has not publicly disclosed his reasons for the continued sales.

Bank of America CEO Brian Moynihan recently addressed the situation, acknowledging Buffett's reduction in shares but admitted he has not inquired about the rationale behind these moves. "I don't know what exactly he is doing because frankly we can't ask," Moynihan remarked during an investor conference in New York, though he praised Buffett’s longstanding investment in the bank.

Amid Buffett's sales, Bank of America continues its strategic expansion. The bank has announced plans to open more than 165 new financial centers across 63 U.S. markets by the end of 2026. Nearly 40 of these centers are expected to launch this year, with the first already opening in Louisville, Kentucky.

In related news, Ajit Jain, a key executive at Berkshire Hathaway, sold over half of his shares in the company for approximately $139 million, amidst speculation around stock valuation and potential changes in tax policies.

On the stock market front, Bank of America's stock closed at $39.45 on Tuesday, down 1.05% for the day, and saw a minor decrease of 0.051% in after-hours trading. Year to date, the stock has experienced a growth of 16.37%, according to data from Benzinga Pro.