Warren Buffett's Berkshire Hathaway (BRK.A) won't have to report its transactions in Bank of America (BAC) stock promptly anymore.

That's because Buffett continued his recent selloff of Berkshire's holdings in the bank, and no longer has a 10% stake, the level required to give timely updates on investments.

In a securities filing, Berkshire said it had sold about 9.5 million shares of BofA over Tuesday, Wednesday, and Thursday at an average price of approximately $40, netting some $380 million. Following the sale, Berkshire owns 775 million BofA shares.

Berkshire Began Trimming BofA Stake in July

Berkshire began dumping the bank's stock 澳洲幸运5官方开奖结果体彩网:in mid-July, and 澳洲幸运5官方开奖结果体彩网:last month shed another 5.8 million shares. Asked about that then, BofA 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Br𒉰ian Moynihan called Buffett "a great shareholder," and explained thatꦜ he didn't know why Buffett was selling, but wasn't worried. "Life will go on," he added. 

The news didn't hurt Bank of America shares, which rose 5% Friday morning along with 澳洲幸运5官方开奖结果体彩网:other bank stocks, and are up about 25% year-to-date.