SCHEDULE: Berkshire Hathaway Maintains Significant Bank of America Stake

Warren Buffett and Berkshire Hathaway entities report a 7.8% beneficial ownership in Bank of America Corporation.

Summary

• Warren E. Buffett and Berkshire Hathaway Inc. collectively beneficially own 568,070,012 shares of Bank of America Corporation common stock.
• This aggregate ownership represents 7.8% of the total class of Bank of America's common stock.
• All beneficially owned shares are held with shared voting power and shared dispositive power.
• National Indemnity Company holds 450,665,500 shares, representing 6.1% of the class.
• GEICO Corporation holds 310,800,000 shares, representing 4.2% of the class.
• Government Employees Insurance Company holds 229,600,000 shares, representing 3.1% of the class.
• GEICO Indemnity Company holds 81,200,000 shares, representing 1.1% of the class.
• BH Finance LLC holds 82,684,512 shares, representing 1.1% of the class.
• Columbia Insurance Company holds 82,684,512 shares, representing 1.1% of the class.
• Other Berkshire Hathaway subsidiaries hold smaller percentages, contributing to the overall beneficial ownership.

Sentiment

Score: 6

Explanation: The filing is a routine amendment to a beneficial ownership report, indicating a stable, significant stake by a major investor. This suggests continued confidence without new positive or negative developments.

Positives

• The continued significant beneficial ownership by Warren E. Buffett and Berkshire Hathaway Inc. signals strong, long-term confidence in Bank of America Corporation.
• The filing confirms a stable, substantial institutional investor base for Bank of America.

Negatives

• NA

Risks

• The filing certifies that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer, mitigating potential governance risks from this large stake.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Bank of America's future performance or Berkshire Hathaway's investment strategy beyond the certification of passive intent.

Management Comments

• Warren E. Buffett certified that, to the best of his knowledge and belief, the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Bank of America Corporation, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

Berkshire Hathaway's enduring and substantial investment in Bank of America underscores its long-standing confidence in the stability and growth potential of major U.S. financial institutions. This position aligns with Berkshire's broader strategy of investing in well-established, economically sound companies, particularly those in the banking and insurance sectors, which are core to its diversified portfolio.

Stakeholder Impact

• Shareholders of Bank of America Corporation can view the continued significant stake by Berkshire Hathaway as a vote of confidence from a highly respected long-term investor.
• The certification of passive investment intent reassures that Berkshire Hathaway is not seeking to influence control, which can contribute to governance stability.

Key Dates

Keywords

Bank of America, Berkshire Hathaway, Warren Buffett, Beneficial Ownership, Schedule 13G, Financial Services, Institutional Investment, Common Stock