Billionaire Warren Buffett Sold 45% of Berkshire's Stake in Bank of America and Is Piling Into a Famed Consumer Brand That's Soared 6,600% Since Its IPO

Berkshire Hathaway’s latest 13F (filed Nov. 14) confirms Warren Buffett has been a net seller for 12 consecutive quarters (about $184 billion) and has trimmed roughly 464.8 million Bank of America shares — a 45% reduction since July 2024 — leaving BofA as still the firm’s third-largest holding; the disposals appear driven by profit-taking, valuation (BofA trading ~38% above book) and concern over the bank’s sensitivity to an expected Fed easing cycle. At the same time Berkshire has been a buyer of Domino’s Pizza for a fifth straight quarter, accumulating roughly 2.98 million shares (about an 8.7% stake) as a bet on the chain’s international same-store-sales momentum, operational/AI initiatives and shareholder-friendly capital returns.

Analysis

Berkshire Hathaway's Sept.-quarter 13F filed Nov. 14 confirms Warren Buffett has been a net seller for 12 consecutive quarters totaling about $184 billion since Oct. 1, 2022, and that Berkshire sold 464,781,994 Bank of America shares (a 45% reduction since July 2024) while BofA remains Berkshire's third-largest holding. 13F filings can lag by up to 45 days, so the snapshot reflects activity through the quarter but may not capture more recent adjustments.

The article attributes the BofA disposals to profit-taking and valuation concerns—BofA trades at a 38% premium to book value—and to interest-rate sensitivity: BofA benefited from the March 2022–July 2023 rate hikes and could see pressure on net interest income if the Fed enters a rate-easing cycle. Those dynamics increase downside risk for bank earnings if rate cuts materialize, which helps explain Buffett's rotation away from a formerly deeply discounted position.

Concurrently, Berkshire accumulated Domino's Pizza for a fifth straight quarter (total purchases by quarter: Q3 2024 1,277,256; Q4 2024 1,104,744; Q1 2025 238,613; Q2 2025 13,255; Q3 2025 348,077; total 2,981,945 shares, ~8.7% stake). The thesis cited is durable international same-store-sales growth (31st consecutive year), AI-driven "Hungry for MORE" initiatives, and shareholder-friendly capital returns (regular buybacks and a rising base dividend for more than a decade), indicating selective conviction amid broader equity selling.

Key Decisions for Investors

• Monitor Bank of America exposure and upcoming Fed-rate signals closely and consider trimming or hedging bank-heavy positions if you own BAC given its 38% premium to book and sensitivity to potential rate cuts
• Treat Berkshire's accumulation of Domino's as a positive signal on DPZ's long-term fundamentals—consider initiating or adding a modest position while sizing for concentration risk and confirming current valuation versus your target
• Use 13F disclosures as a directional input only, verify with real-time price/earnings and company-quarter updates before making material portfolio changes because filings can be up to 45 days stale
• Watch Domino's execution on international same-store-sales, AI supply-chain initiatives and capital-return cadence as the primary operational catalysts that would validate further upside