.Warren Buffett talks during the Berkshire Hathaway Annual Investors Fulfilling in Omaha, Nebraska on May 4, 2024. u00c2 CNBCWarren Buffett's Berkshire Hathaway offloaded one more portion of Banking company of United States shares, delivering its own overall sales to much more than $7 billion considering that mid-July as well as minimizing its own concern to 11%. The Omaha-based conglomerate shed an overall of 5.8 million BofA shares in distinct sales on Friday, Monday and also Tuesday for practically $228.7 thousand at a common selling price of $39.45 every share, according to a newu00c2 governing filing.The most current action extended Berkshire's selling streak to 12 consecutive sessions, matching the 12 successive treatments from July 17 to Aug. 1. Berkshire has offered more than 174.7 thousand portions of the Charlotte-based bank for $7.2 billion, with 858.2 million reveals continuing to be, or 11.1% of shares superior. BofA has actually fallen to the No. 3 place on Berkshire's list of leading holdings, routing behindu00c2 Appleu00c2 andu00c2 American Express. Before the marketing splurge, BofA had long been actually Berkshire's 2nd largest holding.Moynihan on BuffettBuffett once bought $5 billion well worth of BofA's participating preferred stock and also warrants in 2011 in the aftermath of the economic problems. He converted those warrants in 2017, making Berkshire the biggest investor in BofA. The " of Omaha" then included 300 million more shares to his bet around 2018 and also 2019. BofA CEO Brian Moynihan made a rare remark concerning Berkshire's sales Tuesday, claiming he has no understanding of Buffett's motivation for marketing." I do not understand exactly what he's doing, due to the fact that seriously, our company can not ask him. Our experts would not inquire," he pointed out throughout Barclays Global Financial Providers Seminar, according to a transcript on FactSet. "But on the other hand, the marketplace's taking in the supply ... our team are actually acquiring a part of the supply, and so life will happen." Share Chart IconStock graph iconBank of AmericaShares of BofA have actually plunged practically 1% because the start of July, and the stock is actually up 16.7% this year, somewhat exceeding the S&P 500. Moynihan, who has been leading the bank given that 2010, complimented the 94-year-old's clever financial investment in his bank in 2011, which aided shore up self-confidence in the embattled lending institution struggling with losses connected to subprime home mortgages." He's been a wonderful financier for our firm, as well as stabilized our provider when our experts needed to have back then," he said.To illustrate exactly how profitable Buffett's expenditure has been actually, Moynihan said if clients were actually to buy his bank assets the very same day Buffett performed, they would certainly have had the capacity to grab the affordable of $5.50 every reveal. The assets last traded simply under $40 each." He just possessed the guts to accomplish it in a significant means. And also he performed it. And it is actually been an incredible gain for him. Our experts more than happy that he receives it," Moynihan said.u00e2 $" CNBC's Alex Crippen assisted reporting.