Warren Buffett's Berkshire Hathaway has continued its significant reduction of its stake in Bank of America (BofA), selling shares for 12 consecutive trading sessions since mid-July. Over the past three days alone, Berkshire sold approximately $229 million worth of BofA shares, bringing the total value of shares sold to more than $7 billion. The series of transactions has reduced Berkshire's holdings in BofA by over 16%, now standing at an 11.1% stake, down from 1.03 billion shares to around 858 million shares. Despite these sales, BofA CEO Brian Moynihan expressed no concern, stating that the market is absorbing the stock well. Shares of BofA have dipped slightly since the selling began but have still outperformed the S&P 500 this year. Moynihan also praised Buffett's historical investments in the bank, which have been pivotal during past financial crises.